--%>
Assignment Help - homework help

What do you mean by Shuffling the Deck

What do you mean by Shuffling the Deck?

E

Expert

Verified

A. If one thoroughly shuffles a deck of cards, there is a virtual 100% chance that the resulting arrangement of cards will be unlike any previous arrangement.

B. Yet, even though there are tens of billions of resources in the world.

C. Private property eliminates the possibility that resource arrangements will be random because each resource owner will choose a particular course of action if it promises rewards to the owner that exceed the rewards promised by all other available actions.

D. The result is a complex and productive arrangement of countless resources.

   Related Questions in Business Economics

  • Q : Elucidate the various trade which

    Elucidate the various trade which enacted by governments?

    		•
  • Q : How can we calculate EPS How can we

    How can we calculate EPS?

    		•
  • Q : Describe the duty of bondholders in a

    Describe the duty of bondholders in a bond?

    		•
  • Q : International Trade & Globalization

    Question: 1.   Long-term Growth, International Trade & Globalization a.   In terms of understanding the importance of trade to an economy, the most impor

    		•
  • Q : Prices are the automatic regulator

    “Prices are the automatic regulator that tends to keep production and consumption in line with each other.”  Explain.

    		•
  • Q : What is the opportunity cost of

    What is the opportunity cost of attending college?  In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs.  How might this difference relate to opportunity costs?

    		•
  • Q : Perfect Competition leads to Allocative

    A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin

    		•
  • Q : Decreases in opportunity costs of

    The opportunity costs of production and consumption for most resources and goods tend to be decreased by: (w) private monopoly power. (x) price floors. (y) intense competition. (z) price ceilings. Hey friends pleas

    		•
  • Q : Explain the term Operating Leverage

    Briefly explain the term Operating Leverage?

    		•
  • Q : Illustrations of opportunity costs

    Illustrations of opportunity costs which you might or will have incurred would comprise: (i) severe injuries suffered within an accident since you failed to buckle up. (ii) the income you could earn when you were not in school. (iii) time spent studyi

    		•