Describe two kinds of efficiency Full production imply
Describe two kinds of efficiency Full production imply?
Expert
1. Locative efficiency means that resources are used for producing the combination of goods and services most wanted by society.
Eg: instead of long-playing records producing compact discs with productive resources or computers with word processors rather than manual typewriters.
2. Productive efficiency means that least costly production techniques are used to produce wanted goods and services.
Explain how, if at all, each of the following affects the location of the production possibilities curve?
Describe the duty of bondholders in a bond?
Describe the types of multiplant firms?
Explain: “Even though parking meters may yield little or no net revenue, because of the rationing function they perform nevertheless be retained”
Question: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments." Briefly comment on this
Definition of “Full Employment”?
Normal resident: The persons or an institution who lives in a country and whose centre of interest lies in that country is termed as a normal resident of that country.
While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value
Explain the statements: Entrepreneurs and business are at the helm of the economy.
Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.
18,76,764
1936918 Asked
3,689
Active Tutors
1450408
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!