Resource payments correspond to resource categories
Explain the foundation of economics where society’s material wants are Resource payments correspond to resource categories?
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a. Rent as well as interest to providers of property resources
b. Wages as well as salaries to labour resources,
c. Profits to entrepreneurs.
Briefly state the pros and cons of Partnership?
Adam Smith known three advantages rising from divisions of labor which would lead to greater economic wealth that did not include the concept that the division of labor: (w) helps every worker refine specialized skill
Illustrate the 6 basic supply determinants of other than price?
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:
Elucidate facilitating factors that explain the growth of trade?
The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)
Question Can you describe what the production function for the game looks like? (How are labour, capital and resources combined? Are there constant, increasing or decreasing returns to scale?) Answer Q : Illustrate Measuring unemployment Illustrate Measuring unemployment?
Illustrate Measuring unemployment?
Question 7: You are given the following data about two firms: FIRM A Quantity 0 1 2 3 4 5 6 Total revenue ($) 0 10 20 30 40 50 60 Average revenue ($) ___ ___ ___ ___ ___ ___ ___ Marginal revenue ($) ___ ___ ___ ___ ___ ___ Total cost ($) 30 42 50 60 76 100 14
Briefly explain the term leverages?
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