Competitive market
Select the right answer of the question. A competitive market will: A) achieve an equilibrium price. B) produce shortages. C) produce surpluses. D) create disorder.
The resource which a carpet manufacturer is most probable to view as the variable in short run would be: (i) The warehouse it owns (ii) Truck driver. (iii) The truck on a 5-year lease agreement. (iv) Firm’s biggest factory. C
Technological progress shift: (i) Demand curves up and to right. (ii) Production possibilities curve in the direction of their origins. (iii) Prices into inflationary spiral. (iv) Supply curves rightward from vertical axis. Can som
When there is an excess in the balance of trade? Answer: When export > import (that is, when export is greater than import).
A purely competitive firm will turn out where P = MC since this: (w) is good for society. (x) is all which is permitted through law. (y) maximizes profits. (z) permits price adjustment although not quantity adjustment. Q : Creating unhealthy dependency by According to several critics who favor reducing welfare payments, and existing welfare programs as: (1) cannot cure poverty without substantial funding hikes. (2) are justified only when they increase total production. (3) harm poor people by creating
According to several critics who favor reducing welfare payments, and existing welfare programs as: (1) cannot cure poverty without substantial funding hikes. (2) are justified only when they increase total production. (3) harm poor people by creating
Describe the steps taken in estimating N.I. by product/ value added technique? Answer: A) Classify all production units: Locate
‘Is the price of a product for instant consumption – similar to a takeaway curry – equivalent to its worth or advantage to a consumer?’
Governmentally-imposed obstacles to the entrance of new firms within a market are termed as: (1) regulatory barriers or legal barriers to entry. (2) strategic barriers to entry. (3) natural barriers to entry. (4) tax barriers to entry. (5) revenue blockades.
Product Differentiation: The Product differentitation is a condition when various producers under monopolistic competition, try to differentiate their product in terms of its size, shape, packaging, trade-mark and brand name. This is accomplish to att
Economic questions involving both microeconomics and macroeconomics would take in the effects on allocative efficiency and economic development of: (i) War within the Middle East and skyrocketing international prices
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