Competition among buyers and sellers is a control
Illustrate Competition among buyers and sellers is a controlling mechanism?
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1. Large numbers of sellers mean that no single producer or seller can control the price or market supply.
2. Large number of buyers means that no single consumer or employer can control the price or market demand.
3. Depending upon market situation, manufacturers can enter and leave industry easily.
Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?
Adam Smith’s perception which self-interested motives underpin even charitable activities through apparently selfless people appeared originally into his primary major book that was entitled: (1) Theory of Moral Sentiments [1755]. (2) Leviathan
Describe three ways to finance corporate activity. Make a case that stocks are more risky for the financial investor than are bonds?
Nature and Scope of Economics: Introduction Economics is a social science that
Illustrate how receipts come from several sources in Federal Finance?
What are the major legal forms of business organization?
Illustrate the term Economic Rationale?
identify the reasons for the formation of organizations
Illustrate the changes in Demand, Supply and Equilibrium?
The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3
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