Explain the behavior of the workers
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
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Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals. Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).
The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay. Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.
What happens to the supply curve when each of these determinants changes?
Suppose studies show that students who study more hours receive higher grades. Is there any relationship which guarantees that any particular student who studies longer will get higher grades?
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.
Which two of the six reasons listed in the Last Word do you think are the most important in explaining the rise in participation of women in the workplace? Explain your reasoning.
“Prices are the automatic regulator that tends to keep production and consumption in line with each other.” Explain.
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
numbers of sellers in pure competition?
Elucidate Participants in international trade of U.S. and World Trade?
Write down the internal factors which influencing the capital structure?
Transaction costs tend to be decreased, prices to consumers are classically stabilized and lowered, and economy-wide efficiency is generally improved through: (1) rigid wage and price controls. (2) central planning that fosters monopo
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