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The competitive market system is least probable to be allocatively unproductive as a result of: (w) externalities and public goods. (x) cutthroat competition and the outsourcing of low-wage jobs to less grown countries. (y) the underproduction of a go
Explain producers in an industry are receiving pure or economic profits?
Explain the statements: The market system provides such a variety of desired goods and services precisely.
Define cyclical fluctuations?
Why does a demand curve slope downward?
“The legal form an enterprise assumes is dictated primarily by the financial requirements of its particular line of production.” Do you agree?
Write short note on Demand?
What are the determinants of supply?
Provide some sources of not tax revenue? Answer: Escheat, income from public enterprises, special assessment, fees and fines and so on.
Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr
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