Briefly state the pros and cons of Corporation
Briefly state the pros and cons of Corporation?
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It can raise large amounts of money by issuing stocks and bonds; limited liability; continuity.
Red tape and expense in incorporating; potential for abuse of stockholder and bondholder funds; double taxation of profits; separation of ownership and control.
In modern parlance, David Hume statement regarding money which is Tis none of the wheels of trade. And tis the oil, was referring to the notion that money: (i) is relatively costly to produce. (ii) facilitates divisions of labor and specialization and
Explain this statement: “If resources were unlimited and freely available, there would be no subject called economics.”
Studies indicate that married men on average earn more income than unmarried men of the same age?
Concept of Adam Smith that the market system automatically adjusts as when guided through an “invisible hand” most intimately resembles: (1) flows of electricity across the microcircuits within computer chips. (2) homeosta
Explain how the Circular Flow Model for a Market-Oriented System?
Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?
Computing the cost of college education like the cost of books, tuition and materials, room as well as board, and spending money: (i) overstates the economic cost of a college education. (ii) accurately measures the economic cost of a college educatio
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that
Elucidate the use of money as a medium of exchange in Market System?
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