Competitive market economy will make the needed adjustments
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
Expert
They will also be able to pay higher wages and bid workers away from alternative employment. Bagel manufacturing firms will also be willing to pay higher prices for flour and other ingredients. They will be likely to buy additional capital equipment and expand their facilities. Cereal manufacturers will cut production, lay off workers and reduce purchases of materials. They may have to close facilities and offer their used capital equipment and unneeded land for sale at reduced prices.
Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat
“An increase in the American dollar price of the South Korean won implies that the South Korean won has depreciated in value.” Explain.
What are the Causes and theories of inflation?
Explain the statements: The market system provides such a variety of desired goods and services precisely.
Illustrate a fundamental characteristic of demand behavior?
Illustrations of opportunity costs which you might or will have incurred would comprise: (i) severe injuries suffered within an accident since you failed to buckle up. (ii) the income you could earn when you were not in school. (iii) time spent studyi
Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.
Just need help to see if I am in the right direction if there any think wrong need help with it.
Assume that you bought a ton of gold in Santiago, and Chile for $450 per ounce and immediately sold all of this in Antwerp, Belgium for $480 per ounce. Therefore economists would categorize your movement as: (i) arbitrage. (ii) scalping. (iii) screening. (iv) speculat
A grocery store chain is considering ways to improve the performance of the waiting lines at their checkout stands. A heavily trafficked checkout stand is monitored for 120 min. In that period, 60 customers have their groceries rung up, and depart from the store. The
18,76,764
1955942 Asked
3,689
Active Tutors
1412195
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!