Illustrate Rational Behaviour of Economic Perspective
Illustrate Rational Behaviour of Economic Perspective?
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1. Rational self-interest entails making decisions to achieve maximum fulfillment of goals.
2. Different preferences and circumstances lead to different choices.
3. Rational self-interest is not the same as selfishness.
Illustrate the several determinants of demand besides price which affect demand?
Can you explain how different government policies with respect to the recycling of aluminum and paper might account for these different market outcomes?
Intermediaries ultimately prosper only when they give a service of decreasing: (1) demand for a good (2) prices paid to manufacturers of a good. (3) transaction costs. (4) rivalry for various types of resources. (5) cut-throat competition into markets
Define the term Abstractions in economics?
What are the merits of speciality in the use of human and material resources?
What is the most important source of revenue and the major type of expenditure at the local level?
Illustrate the advantage and disadvantage of Corporations?
Describe the types of multiplant firms?
Explain of the law of demand?
Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans. However, the recycler charges you $.20 per bundle to accept your old newspapers.
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