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Building blocks for a capitalist system consist of: (1) supplies and demands. (2) private property rights. (3) laissez-faire policies. (4) market-determined outputs and prices. (5) All of the above. Please guys hel
How to construct a 2-D graph which comprises drawing a horizontal and a vertical axis?
What are economic resources? What are the major functions of the entrepreneur?
Question: Monica has been considering buying a mountain bike. Last month Monica had an income of $30,000. The bike's price was $1000, the composite good price was $1, and she decided not to buy the bike. This month Monica was surprised t
Elucidate how to maintain competition?
Describe unexpected deflation?
Explain increased global competition?
What is the most important source of revenue and the major type of expenditure at the state level?
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model? What are the flows in the circular flow model?
Describe the meaning of the term “invisible hand.”
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