The market system provides such a variety of desired goods
Explain the statements: The market system provides such a variety of desired goods and services precisely.
Expert
The market system provides such a variety of desired goods and services precisely because no single individual or small groups is deciding what the economy will produce. Each individual consumer will choose a variety of goods and services that in combination will maximize his/her satisfaction (utility). To maximize profits, producers must respond to the desires of the individual consumer.
Evaluate and explain the statements: “Market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace”
Write down the steps carried out for proper control on capital budgeting process?
Briefly state the pros and cons of Proprietorship?
Why is it significant that economics is not a laboratory science? What problems may be evolved in deriving and applying economic principles?
Describe what do you mean by European Union (EU)?
Critically evaluate: “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”
What are the scientific method that Economists use to establish theories, laws, and principles?
Explain how Entrepreneurs are risk-takers?
Use the circular flow model to confirm this assertion for $50 million increase in spending for space research?
‘Mama’ Jean consists of one employee bake crumbly, graham cracker crusts at Mama’s Home-Pies, whereas the other stirs gooey, hot, apple filling. Her staff is organized in accord with a/an: (1) Task management system. (2) Division of labor. (3) Compar
18,76,764
1947829 Asked
3,689
Active Tutors
1450983
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!