Explain the behavior of the workers
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
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Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals. Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).
The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay. Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.
Briefly describe the term Cost of debt?
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As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested
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Why Public or social goods not be produced through the market?
Define Direct and inverse relationships?
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