Define the terms Plant, Firm
Define the following terms?
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1. Plant: physical establishment where production or distribution takes place (factory, farm, store).
2. Firm: business organization that owns and operates the plants. (The legal entity)
3. Industry: a group of related firms, producing the same or similar products.
a. Examples include the automobile industry or the tobacco industry.
b. Confusion often occurs because many businesses are multiproduct firms.
Explain how the Circular Flow Model for a Market-Oriented System?
Building blocks for a capitalist system would not consist of: (1) supplies and demands. (2) private property rights. (3) laissez-faire policies. (4) market-found prices and outputs. (5) distribution of income in accord along with the principle, &ldquo
The advocates of laissez-faire policies favor: (i) Govt. control of economy. (ii) Public ownership of all the resources. (iii) Income to be distributed according to requirement. (iv) Surpluses in the balance of trade. (v) Minimal govt. intervention in economy.
Evaluate and explain the statements: “Market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace”
What do you mean by Financial Linkages in U.S. and World Trade?
What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry.
Write down the common factors influencing capital structure?
Illustrate the Law of supply?
Elucidate reallocation of Government resources?
Briefly explain the term Operating Leverage?
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