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.
Illustrate a summary of what can cause an increase in demand?
How to construct a 2-D graph which comprises drawing a horizontal and a vertical axis?
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
Why businesses are not really “free” to produce what they wish?
Briefly describe composite cost of capital? And also describe the procedure to calculate composite cost of capital?
What happens to the demand curve when each of these determinants changes?
Illustrate the Public Sector Government’s Role of providing the legal structure?
“The best of all probable worlds is one in that we adopt policies which maximize the happiness of the lots number of people” is a statement of the utilitarian philosophy attributed to: (w) Alfred Korzybski. (x) Hugo Grotius. (y) Xenophon.
You may use a calculator and MINITAB to conduct the necessary calculations for all questions. Analysis of US GDP and GDP growth rate (1959-2004). The following variables can be retrieved from MIN
Distinguish between a change in supply and a change in the quantity supplied?
18,76,764
1952050 Asked
3,689
Active Tutors
1459767
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!