Illustrate the advantage and disadvantage of Partnership
Illustrate the advantage and disadvantage of Partnership?
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Advantages: easy to organize; greater specialization; better access to financial resources than proprietorships.
Disadvantages: some of the same shortcomings of the proprietorship; possible difficulties in sharing management responsibilities; still limited financial resources; problems if one of the partners leaves; still unlimited liabilities.
Elucidate the various trade which enacted by governments?
Explain the foundation of economics where society’s material wants are unlimited?
What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?
Give a brief introduction of the term Cost of capital?
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
Explain: “Goods and services are scarce because resources are scarce.” Analyze: “It is the nature of all economic problems that absolute solutions are denied us.”
Is Eiteman & Guthrie’s empirical evidence on the shape of the average total cost curve consistent along with heterodox cost theory? Discuss it out.
Compare the costing and pricing process of heterodox pricing process to the procedures utilized in neoclassical microeconomics to set prices. In what ways are heterodox prices altered from neoclassical prices?
Drinking at a public water fountain is: (w) a public good because anyone may drink from it. (x) results in a negative externality because others can’t drink from this at similar time. (y) a positive externality because you are benefiting by other’s provisi
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