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Shortages or surpluses exist while: (w) transaction costs are zero. (x) quantity supplied be different from quantity demanded. (y) monopolists enjoy exorbitant profits. (z) supply prices equivalent demand prices. H
I have a problem in economics on Problem on Capitalism economies. Please help me in the following question. Economies primarily based on private resource ownership and decentralized decision making are: (i) Communistic economies. (ii) Fascist economie
If six units of capital can be substituted for one unit of labor without changing total steel output, whereas 4 units of capital can be substituted for one unit of labor without changing the output of wheat, at that moment: (w) there is an optimal allocation of resour
Suppose a deluxe hamburger is $5, an Oreo blizzard is $3, and a soda is $1. Then the relative price of the hamburger is: (a) 1.6 blizzards. (b) four sodas and half of a blizzard. (c) two blizzards. (d) a blizzard and one soda. Q : Self-interested behaviour in economics Several critics of our economic system contend such that self-interested behavior is not intrinsic, although that people are taught to be "selfish" through our society's stress within competition. Such critics argue that when we encouraged cooperation as much as we cu
Several critics of our economic system contend such that self-interested behavior is not intrinsic, although that people are taught to be "selfish" through our society's stress within competition. Such critics argue that when we encouraged cooperation as much as we cu
A wristwatch is a model of the passage of time since it gives a: (w) simple representation of a complex process. (x) good illustration of modern technology. (y) way to coordinate human activity. (z) unique statement of one's personality. Q : Potentially allocated lower prices in Whose lives are potentially allocated lower prices while a drunk decides to drive home without waiting to sober up?
Whose lives are potentially allocated lower prices while a drunk decides to drive home without waiting to sober up?
The “invisible hand” of the marketplace is a term coined by Adam Smith that considers to: (w) government policies to set market prices at equilibrium levels. (x) speculative manipulations which create disequilibrium. (y) a
If the soybean market begins in equilibrium on S0D0, and in that case farm machinery becomes more fuel efficient, the market changes to: (1) S0D1. (2) S1D2. (3) S1D0. (4) S2D1
People who seek gains and bear risks and improbability while they combine land, capital and labor in productive ways is: (i) socialists. (ii) sole proprietors. (iii) professional managers. (iv) entrepreneurs. (v) bureaucratic capitalists.
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