Increase the overall effectiveness of the market system
How the government can increase the overall effectiveness of the market system?
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Although the market system promotes efficiency, it has certain shortcomings over production of goods with social costs, under production of goods with social benefits, tendency for business to increase monopoly power, macro instability.
Describe unanticipated inflation?
Mutually beneficial exchange is probable whenever relative production costs vary previous to trade, is a manner to state the law of: (1) Positive profits from trade. (2) Comparative benefit. (3) Specialization and Division. (4) Purchasing power parity
Explain determining the types of the various products that will be produced?
Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below: Q : Economic concepts of academic subjects The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)
The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)
numbers of sellers in pure competition?
consumer's interview method for demand forecasting(point to point explain)
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good. Answer:
Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers. Q : Explain about the principle of Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat
Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat
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