Illustrate Scarcity and choice of Economic Perspective
Illustrate Scarcity and choice of Economic Perspective?
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1. Resources can only be used for one purpose at a time.
2. Scarcity requires that choices be made.
3. The cost of any good, service, or activity is the value of what must be given up to obtain it. ( opportunity cost ).
Give a brief introduction of the term Cost of retained earnings?
Even people who are extremely good at everything couldn’t encompass: (i) absolute benefits in approximately everything. (ii) Much higher incomes than average. (iii) Comparative benefits in everything. (iv) Superior natural endowments of talent. Q : Distinguish clearly between a plant Distinguish clearly between a plant, a firm, and an industry?
Distinguish clearly between a plant, a firm, and an industry?
Difference between normal goods and inferior goods. Give illustration.
Explain how the Circular Flow Model for a Market-Oriented System?
Discussion of a pin factory by Adam Smith focused upon the increased productivity related along with: (w) free international trade as per absolute advantage. (x) specialization and the division of labor. (y) free international trade as per comparative advantage. (z) certainty abo
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. (
Question: Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment? Answer:
numbers of sellers in pure competition?
Briefly state the pros and cons of Corporation?
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