Invisible hand
Describe the meaning of the term “invisible hand.”
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Market prices act as an “invisible hand” coordinating an economy by rationing what are scare and providing incentives to produce the most desired goods and services.
Explain the statement: “Generalization and abstraction are nearly synonymous.”?
Define the following terms?
A grocery store chain is considering ways to improve the performance of the waiting lines at their checkout stands. A heavily trafficked checkout stand is monitored for 120 min. In that period, 60 customers have their groceries rung up, and depart from the store. The
Why businesses are not really “free” to produce what they wish?
When the market price is $25, then the average revenue of selling five units is: w) $5. x) $12.50. y) $25. z) $125. Please guys help me to solve out this type of problem regarding profit in a perfectly competitive market
Describe four important areas to emphasize Expenditures?
Writ short note on the income of functional distribution?
Transaction costs tend to be decreased and markets are more efficient when: (w) the government subsidizes a good. (x) inter-market price differentials are eliminated through arbitrage. (y) taxes are used to give for social wants. (z) regulations close
Fiscal Policy:Public or government finance is a field of economics. This deals with budgeting the revenues and expenditures of government (i.e., or public sector). It is regarding the identi
Explain this statement: “If resources were unlimited and freely available, there would be no subject called economics.”
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