What happens in the product markets
What happens in the product markets?
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a. Households are on the buying side of these markets, purchasing goods and services.
b. Businesses proposes products for sale are on the selling side of these markets
c. Interaction of these buyers and sellers determines the price of each product.
d. Flow of consumer expenditures constitutes sales receipts for businesses.
Would a decline in U.S. consumer income or a weakening of U.S. preferences for foreign products cause the dollar to depreciate or appreciate? Other things equal, what would be the effects of that depreciation or appreciation on U.S. exports and imports?
Economics as a science:We no longer ask the problem whether economics is an art or a science. Science is a systematized body of knowledge. Merely as physics and chemistry are sciences, econo
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What do you mean by the term “United State in Global Economy”?
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Industries that are described as "contestable": (w) will experience long-run economic profits equal to zero. (x) are difficult for firms to enter, but not to exit. (y) are difficult for firms to exit, but not to enter. (z) will charge prices greater t
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Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?
Cingular and Alltel involve in aggressive and expensive advertising for cell-phones. A reason for this advertising may be: (1) attempts to increase market share. (2) predatorily drive other firms by the market. (3) to increase the use of cell phones.
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