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The closest of the given to being a free good would be from below: (i) affection and support by your parents. (ii) a $100 bill you determined after a stiff breeze blew this onto your porch. (iii) heal
The value of the best foregone alternative explains: (w) opportunity costs. (x) monetary costs. (y) irrational behavior through a consumer. (z) retail price margins over production costs. How can I s
The opportunity cost of any type of decision is measured through the: (w) market price of career and education opportunities. (x) value of the worst optional choice sacrificed. (y) market price of the
While people buy something, then its opportunity cost is the: (w) monetary price they paid. (x) enjoyment they get by their purchase. (y) satisfaction they lost by not buying something else. (z) time
Decisions based upon opportunity costs are not concerned in a direct way whiles: (i) you fail to buckle up before driving a car. (ii) a brilliant high school graduate works like a rapid food cook in p
Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge on tradeoffs which essentially reflect as: (1) using cooperative allocative mechanisms to mi
Every decision involves opportunity costs due to the fundamental facts which underpin: (i) limits to human reason. (ii) production technology. (iii) limits to human wants. (iv) demand and supply analy
Standard economic theory supposes that individuals behave: (w) along with charity towards others while they are particularly moral. (x) irrationally while they are in large groups. (y) like home econo
As per the view of humans as Homo economics, individuals: (w) can simply achieve states of whole satisfaction. (x) must learn to get by along with what they have. (y) want to maximize personal satisfa
The payments to entrepreneurs are the: (i) interest earned by saving money and managing main corporations. (ii) rental payments by extensive land holdings. (iii) profits occurrence from bearing uncert
The economic profits realized through organizing production, bearing uncertainty, taking risks and innovating are rewards to: (i) corporate managers. (ii) astute financial investors. (iii) corporate s
Economic profit is the entrepreneur's: (i) payment to managers for their services. (ii) capital stock minus depreciation. (iii) reward for innovation and bearing risks. (iv) difference between monetar
I need a good answer on the topic of Economic problems. Please give me your suggestions that entrepreneurship, labor, capital and land are all illustrations of: (w) producer's supplies. (x) goods and
When Farmer MacDonald decides to plant a field complete of rutabagas, the economic capital involved within such crop production process would consist of the: (i) tractor he rides. (ii) land he farms.
Hey friends please give your view for the problem of investment in Economic that is given below: If a firm buys $50 million worth of new machinery to replace worn out equipment that originally cost $
When gross investment is $100 billion whereas $10 billion of capital is worn out, in that case net investment is: (w) $90 billion. (x) $100 billion. (y) $110 billion. (z) not possible to calculate wit
Assume that Michael Jordan purchases the New Jersey Nets basketball franchise and, expecting an explosion of sales at his car dealerships, he instructs two hundred new extra Toyotas. By an economic pe
Capital goods are: (w) machines, equipment, buildings, and other enhancements to natural resources. (x) goods which indirectly contribute to human satisfaction. (y) resources which have been changed f
Hey friends please give your opinion for the problem of economic capital that is given below: Illustrations of economic capital do NOT include: (w) buildings. (x) tools. (y) machinery. (z) stocks and
I need a good answer on the topic of Economic problems. Please give me your suggestion that the economists’ resource category of “land” would not contain: (1) coal, petroleum, and ot
Land, labor, and capital are all scarce since: (w) human wants are restricted. (x) less is obtainable than people want. (y) each productive resource needs a monetary return for its use. (z) once emplo
Hey friends please give your opinion for the problem of economic resources that is given below: Resources (factors of production) do NOT comprise: (i) entrepreneurship. (ii) competition. (iii) land.
The four fundamental categories for economic resources are: (w) matter, energy, technology and information. (x) wages, rent, interest and profits. (y) land, labor, capital and entrepreneurship. (z) ma
Technological advances would not comprise: (i) Native Americans demonstrating Pilgrims how crops grow faster when rotten fish are dropped within with seeds they plant. (ii) pouring coffee through a co
By using knowledge and/or technology to apply energy to change materials, thereby making the materials more precious is: (w) production. (x) demand. (y) a total cure for scarcity. (z) economically pro