--%>
Assignment Help - homework help

Benefit of the market system

One political benefit of the market system over the majority of other economic systems is that: (1) The power to take decisions is comparatively decentralized. (2) Democratic decisions are steadier than individual selections (3) Centralized decisions are much simply fine-tuned to accommodate individual requirements. (4) Market distributions of income are much less vaguely unfair.

Give the right answer of the above question.

   Related Questions in Microeconomics

  • Q : Formally effective a cartel To form and

    To form and effectively keep a cartel over time needs that the: (w) bulk of output be produced and sold by a minute number of cartel members. (x) product be relatively heterogeneous. (y) demand for the product be highly elastic. (z) government totall

    		•
  • Q : Price elasticities of demand and higher

    Price elasticities of demand tend to as: (i) fall as higher prices are charged. (ii) rise as higher prices are charged. (iii) almost always be constant. (iv) not be associated to the length of time. (v) not be influenced by price changes.

  • Q : Determine equality of marginal revenue

    Marginal revenue equals the change within total: (w) profit as output expands slightly. (x) output from hiring an additional worker. (y) revenue from selling an extra unit of output. (z) tax rates while tax revenue increases a bit.

    Q : Define Marginal rate of Substitution or

    Marginal rate of Substitution (MRS): It is the rate at which a consumer is prepared to give up one good to get the other good.

    		•
  • Q : Where is the price elasticity of supply

    The price elasticity of supply as in below demonstrated figure is unitary within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

    Q : Estimating N.I. by product by value

    Describe the steps taken in estimating N.I. by product/ value added technique? Answer: A) Classify all production units: Locate

    		•
  • Q : Perfect elasticity of demanded curve

    The graph of a demand curve which is perfectly elastic is: (1) positively sloped. (2) horizontal. (3) vertical. (4) negatively sloped. (5) a 45° diagonal line. Can someone explain/help me with

    		•
  • Q : Interaction of demand and supply with

    Identify and explain the main economic factors that determine the price of a good or service. Please include how demand and supply interact and elasticity, etc. Also give examples with graphs.

    		•
  • Q : How production increases the value of

    I have a problem in economics on how production increases the value of good. Please help me in the following question. The production of jewelry from valuable metals raises the value of a good by modifying its: (1) Time. (2) Possession. (3) Place. (4) Form.

  • Q : What is involuntary unemployment What

    What is involuntary unemployment: The people who are willing to work at given wage rate do not obtain work.

    		•