--%>

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 : Opportunity Cost Opportunity Cost :

    Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should

  • Q : Argument on quantity theory of money by

    David Hume, who said about money such as “Tis none of the wheels of operate. Tis the oil’,” exposed a main error within mercantilism through explaining what is currently considered to as the: (w) quantity theory of money. (x) price l

  • Q : Positive Balance of Payments Question:

    Question: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments." Briefly comment on this

  • Q : Examples and Applications of

    What are the Examples and Applications of International Trade?

  • Q : When are transaction costs to ultimate

    Transaction costs to ultimate consumers are reduced if: (w) consumers travel long distances to buy directly from manufacturers quite than buying the goods at local retail stores. (x) intermediaries generate income while conveying goods from manufactur

  • Q : Market efficiency while transaction

    Transaction costs tend to be decreased and markets are more efficient when: (w) the government subsidizes a good. (x) inter-market price differentials are eliminated through arbitrage. (y) taxes are used to give for social wants. (z) regulations close

  • Q : Symptoms of governmental interference-

    Adam Smith and the “typical liberal” economists who followed within his footsteps viewed persistent monopolization and market power as: (1) ineffective and best regulated through government. (2) crucial in finding the rate of technological

  • Q : Who define Theory of Moral Sentiments

    The argument which slicing off one’s pinkie would be extra bothersome to which person than the loss of millions of his brethren was made within A Theory of Moral Sentiments (1755) through: (1) Adam Smith. (2) David Ricardo. (3) Theophrastus Phil

  • Q : Affluence tomorrow requires sacrifice

    Explain:  “Affluence tomorrow requires sacrifice today.”

  • Q : Initial systematic and popular

    The initial systematic and popular description of capitalism was explained in: (1) Sir Thomas Mun’s England’s Treasure by Foreign Trade. (2) Joseph A. Schumpeter’s Capitalism, Socialism, and Democracy. (3) John Maynard Keynes’