Signals that guide economic decisions
In market economies, what are the signals which guide economic decisions?
Expert
In market economies, prices are the signals which guide economic decisions and thus allocate scarce resources. For each and every good in the economy, the price makes sure that supply and demand are in balance. The equilibrium price then finds out how much of the good buyers chooses to buy and how much sellers select to produce.
The transfer of wealth from developed countries to oil exporting countries (abbreviated as OPEC) which followed sky-rocketing oil prices in the year 1970s points out that the price elasticity of demand for oil was: (i) Unitary. (ii) Relatively high. (
I have a problem in economics on Price ratios and marginal utility ratios. Please help me in the following question. The efficiency in consumption needs equality of: (i) Income distribution. (ii) All product price and resources. (iii) MC and MR. (iv)
Give some objective of government Budget. Answer: The objectives which are pursued by government via the budget are as follows: A) To attain economic growth. B) To decrease in equalities in income and wealth.
What relationship does the MPC bear to the size of the multiplier? The MPS? What will the multiplier be when the MPS is 0, .4, .6, and 1
Law of supply: It is the claim which, other things equivalent, the quantity supplied of a good increases whenever the price of the good increases.
What happens when AD > AS past to full employment level of employment?
What is Supply schedule and how it is related to supply curve?
Describe when there will be a surplus of the good?
WHAT ARE THE STRENGTH AND WEAKNESS OF THE THEORY OF FOREIGN DIRECT INVESTMENT
Describe Okun's law? Give an illustration of how it works.
18,76,764
1924639 Asked
3,689
Active Tutors
1427889
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!