Guardian implies that there really is an invisible hand
Evaluate and explain the statements: “Market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace”
Expert
The statement that the market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace. In a pure capitalist system where free markets exist, freedom of enterprise and freedom of choice exist. However, if one chooses to produce that which the consumer does not want, or at least doesn’t want enough to cover the cost of the scarce resources employed, the producer-entrepreneur will find this freedom of enterprise limited by the decisions of consumers in the marketplace. On the demand side, consumer choice is limited by the prices of commodities which consumer wants and the consumer’s income i.e. limited by value that the consumer’s own resources can earn in resource markets.
Which two of the six reasons listed in the Last Word do you think are the most important in explaining the rise in participation of women in the workplace? Explain your reasoning.
Explain increased global competition?
Question: If a government pegs the value of its currency to another currency, the government must stand ready to i. _________________________ the "hard" currency to defend the pegged value of its own currency. ii.
In Wealth of Nations by Adam Smith, opined that the productivity of labor based primarily on: (w) workers’ education. (x) divisions of labor. (y) technologically advanced machines. (z) suitable wage rates. Q : Introduction of the term Cost of equity Give a brief introduction of the term Cost of equity shares?
Give a brief introduction of the term Cost of equity shares?
Explain and give an illustration of (a) the fallacy of composition; and (b) the “after this, therefore because of this” fallacy. Why are cause-and-effect relationships difficult to isolate in the social sciences?
Adam Smith must have emphasized more strongly how his Wealth of Nations drew concepts and inspiration by Richard Cantillon’s Essai. Now today’s perspective that the Wealth of Nations would considered even
Distinguish between a change in demand and a change in the quantity demanded?
Evaluate and explain the statements: “In the economic sense production methods are the most efficient methods, once resource prices are considered and are lesser in sense of engineering”.
“Prices are the automatic regulator that tends to keep production and consumption in line with each other.” Explain.
18,76,764
1939928 Asked
3,689
Active Tutors
1449287
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!