New firms entry in industry
What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry.
What persuades new firms to enter in an industry?
Answer: Abnormal profit encourages new firms to enter an industry.
Why producers not be able to find enough paying buyers for “public goods”?
Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte
In words of Adam Smith, who theorized that the “natural price” of a good based most directly upon the: (1) wage rate and the relative amount of labor required to produce the good. (2) greater of the value of the good &ldqu
Elucidate redistribution of income?
Conception of the “Invisible Hand” by Adam Smith relies on mechanisms like those as underpin: (1) William Stanley Jevons’ “sunspot” theory of business cycles. (2) the biological concept of Homeostasis. (3
Provide some sources of not tax revenue? Answer: Escheat, income from public enterprises, special assessment, fees and fines and so on.
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
Why an economic problem does arise? Answer: It arises due to following reasons: A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.
Describe GDP gap and Okun’s Law?
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
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