Reason of Economic problem
Why an economic problem does arise? Answer: It arises due to following reasons: A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.
Why an economic problem does arise?
Answer: It arises due to following reasons:
A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.
Describe the meaning of the term “invisible hand.”
What explains why millions of economic resources tend to get arranged logically and productively rather than haphazard and unproductively?
Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or l
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:
Why producers not be able to find enough paying buyers for “public goods”?
Elucidate state expenditures and receipts for all states in 1998?
How market system promotes technological improvements?
How does society decide its optimal point on the production possibilities curve?
How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?
What is the most important source of revenue and the major type of expenditure at the local level?
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