How market system promotes technological improvements
How market system promotes technological improvements?
Expert
a. An entrepreneur or firm that introduces a popular new product will be rewarded with increased revenue and profits.
b. New technologies that reduce production costs and therefore product price will spread throughout the industry as a result of competition.
c. Creative destruction occurs when new products and production methods destroy the market positions of firms that are not able or willing to adjust.
Illustrate the Comparative advantage and terms of trade?
Q X= 600- 6PX + 20I +0.4PY c. Suppose PX increases by 10%, by what percentage would sales decrease? Explain how this price increase affect total revenues from good X.
Elucidate the ways to finance corporate activity?
Relative to other systems, economies in that people exchange goods or resources directly along with other people for other goods or resources without using money like a usual denominator rely relatively heavily upon: (i) barter. (ii) specialization. (
Discuss the economic aspects of ticket scalping also identifying the gainers and losers?
What are the reasons for change in expanded production possibilities with women?
Describe the duty of bondholders in a bond?
“Prices are the automatic regulator that tends to keep production and consumption in line with each other.” Explain.
Explain the law of supply. Why does the supply curve slope upward?
Illustrations of activities which generate negative externalities would not comprise: (w) burning coal that results in acid rain. (x) smoking a cigar at the opera. (y) killing fish by dumping sewage into a river. (z) being inoculated against a contagi
18,76,764
1947452 Asked
3,689
Active Tutors
1441879
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!