Competition is the essential despot of the market economy
Evaluate and explain the statements: “Competition is the essential despot of the market economy”.
Expert
Competition provides discipline in 2 ways:
1st it pressurize firm to look for the least-cost manufacture methods or face being driven out of business by their rivals.
2nd it avoid victorious manufacturer from charging whatsoever marketplace will bear. Prices of competition kept at level anywhere total revenue production includes a profit. As in a cut-throat market situation it is hard process and difficult to accomplish the equivalent results, this shown Experience.
Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.
Define the term Mixed Economy and also state their advantages and disadvantages?
What are the 4 phases of the business cycle?
In heterodox economics, what implications does technical change and vintage technology contain for the cost structure of the business enterprise?
Quantity TR TC 0 $0.00 $10.00 1 $150.00 $30.00 2 $290.00 $50.00 3 $420.00 $80.00 4 $540.00 $120.00 5 $650.00 $170.00 6 $750.00 $230.00 7 $840.00 $300.00 8 $920.00 $
Nature and Scope of Economics: Introduction Economics is a social science that
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
The price of KnickKnacks is $1 and the price of WigWags has increased with $2 to $3. Therefore: (w) absolute price of KnickKnacks has decreased and the relative price of WigWags has increased. (x) relative and absolute prices of KnickKnacks have
Which of the given is a quality of an oligopolistic market structure? w) There are only some dominant sellers. x) every firm sells a unique product. y) this is easy for new firms to enter the industry. z) Each firm require not react to the actions of
Even people who are extremely good at everything couldn’t encompass: (i) absolute benefits in approximately everything. (ii) Much higher incomes than average. (iii) Comparative benefits in everything. (iv) Superior natural endowments of talent. Discover Q & A Leading Solution Library Avail More Than 1454329 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1933487 Asked 3,689 Active Tutors 1454329 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1933487 Asked
3,689
Active Tutors
1454329
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!