Explain determining the types of the various products
Explain determining the types of the various products that will be produced?
Expert
Consumer sovereignty is the key to determining the types and quantities of the various products that will be produced. “Dollar votes” for a product when purchases are made and “dollar votes” against a product when products are ignored will determine which industries continue to exist and which individual products survive or fail.
When the production possibilities frontier in a proficient economy is not growing, raising the output of one good always needs: (i) Increasing the output price for the other good. (ii) Bigger amounts of resources. (iii) Decreasing the output of other
Question: Was the stimulus package passed in 2009 as success? In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators. Your answer should also describe w
Assume that the equilibrium price within a perfectly competitive industry is $15 and a firm into the industry charges $21 there. Which of the given will occur: w) the firm's profits will rise. x) The firm's revenue will rise. y) The firm will not sell
Define the term Market Economy and also state its advantages and disadvantages?
One early involvement of Adam Smith to the theory of gains by international trade, although later thoroughly revised and refined through David Ricardo, was the conception of: (1) mercantilism. (2) absolute advantage. (3) comparative a
Describe Spillovers and externalities?
Briefly state the pros and cons of Proprietorship?
Question: Cineplex and AMC are two rival movie theatre chains. They must each decide whether to set an admission price of $10 or set an admission price of $12; of course, the number of movie goers (and thus their r
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
Why businesses are not really “free” to produce what they wish?
18,76,764
1957141 Asked
3,689
Active Tutors
1427243
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!