Allocative Mechanisms-market based economic system

+44 141 628 6080
[email protected]

The market-based economic system: (1) Appears to be ‘natural’ as it has existed in all societies. (2) Has dominated the economic relationships in United States since from the year1492. (3) Guided resource allocation in middle ages. (4) Is more characteristic in U.S. than in Cuba.

What is the right answer?

View Complete Question

Related Questions in Business Economics

Q : Competition among buyers and sellers is

Illustrate Competition among buyers and sellers is a controlling mechanism?

Q : Describe Traditional approach of

Briefly describe Traditional approach of capital structure?

Q : External costs and external benefits

Explain the impact of external costs and external benefits on resource allocation

Q : Specialization and trade according to

Not between concepts explained in Adam Smith’s Wealth of Nations was the conception which net benefits occur from: (1) specialization and trade according to comparative advantage. (2) the division of labor in production processes. (3) reliance o

Q : Problem related to market circular flows

In output markets, the simple circular flow model, households replace their _________ for _________. Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | g

Q : Explain how an increase in state

Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.

Q : Government policies with respect to the

Can you explain how different government policies with respect to the recycling of aluminum and paper might account for these different market outcomes?

Q : Numbers of sellers in pure competition?

numbers of sellers in pure competition?

Q : How do households dispose of their

How do households dispose of their income?

Q : Why does the supply curve slope upward

Explain the law of supply. Why does the supply curve slope upward?

Discover Q & A

Leading Solution Library

Avail More Than 1418995 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1945451
Asked

3,689

Active Tutors

1418995

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment