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Explain the characteristics of market efficiency?
A firm which could cut costs without reducing the value of its output is experiencing as: (i) Allocative inefficiency. (ii) Productive inefficiency. (iii) Distributive inefficiency. (iv) Technological decline. Can
The fundamental economic questions are "What?”, “How?”, and “For whom”? When we ask, "For whom?", we need to know who will: (w) produce the goods. (x) consume the goods. (y) get the profits. (z) decide wh
Smog is: (w) a good since this gives the air texture. (x) a bad because most people would pay to find rid of this. (y) a free good since you could consume all you desire without having to pay for this. (z) an inefficient utilization of resources. Q : Consequence of the increased People would be least probable to be happier like a consequence of the increased accessibility of: (1) free goods. (2) economic resources. (3) superior technologies. (4) economic goods. (5) economic bads. Hello guys I want your adv
People would be least probable to be happier like a consequence of the increased accessibility of: (1) free goods. (2) economic resources. (3) superior technologies. (4) economic goods. (5) economic bads. Hello guys I want your adv
Government often bases decisions regarding distributions of income and output on: (i) unemployment and Inflation. (ii) Positive economic theories. (iii) Perceptions regarding equity and need. (iv) Market demands and supplies. Can s
The eccentricities of Jeremy Bentham (from 1748 to 1832) did not comprise: (i) allowing a pet pig to freely roam his mansion. (ii) petitioning the London Council for permission to replace shrubbery beside his driveway along with mummi
For any given point on the production possibilities (or PPF) curve: (i) More economic welfare is achieved than from any points within the PPF. (ii) Moving to some other output combination should yield enhanced economic welfare. (iii) More of some good can be generated
To be helpful in economic analysis, a theory should produce: (w) Realistic assumptions. (x) A consensus in between scientists. (y) Results which is not possible to disprove. (z) Predictions supported through real world data. Q : Influence of economic good in An economic good is everything for that: (w) increased consumption increases people's satisfaction. (x) entrepreneurship, land, labor and capital are needed. (y) an economic bad is its physical opposite. (z) producers obtain profits in place of losses
An economic good is everything for that: (w) increased consumption increases people's satisfaction. (x) entrepreneurship, land, labor and capital are needed. (y) an economic bad is its physical opposite. (z) producers obtain profits in place of losses
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