Production possibilities curve is a graphical representation
How a production possibilities curve is a graphical representation of choices?
Expert
1. Points on the curve represent maximum possible combinations of robots and pizza given resources and technology.
2. Points inside the curve represent underemployment or unemployment.
3. Points outside the curve are unattainable at present.
Describe Spillovers and externalities?
The model of _____ was demonstrated by _____ along with the quote, “The loss of a small finger would remain the average European by sleeping which night, ... but, given he never observed them, he will snore with the most profound security over the loss of millio
Janet has loaned a start-up coffee house $50,000 and predicts to earn interest from her financial investment. In circular flow model this transaction is an illustration of: (1) An exchange of her saving for interest, via a resource market for the economic capital. (2)
In heterodox economics, what implications does technical change and vintage technology contain for the cost structure of the business enterprise?
Explain the statements: Entrepreneurs and business are at the helm of the economy.
What are the determinants of demand?
Explain the Trade pattern of U.S. and World Trade?
Adam Smith’s opinion of an “invisible hand” powerfully implies the meaning that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most peopl
Describe unequal burdens of unemployment exist?
The market-based economic system: (1) Appears to be ‘natural’ as it has existed in all societies. (2) Has dominated the economic relationships in United States since from the year1492. (3) Guided resource allocation in middle ages. (4) Is
18,76,764
1947602 Asked
3,689
Active Tutors
1446587
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!