Define the terms Plant, Firm
Define the following terms?
Expert
1. Plant: physical establishment where production or distribution takes place (factory, farm, store).
2. Firm: business organization that owns and operates the plants. (The legal entity)
3. Industry: a group of related firms, producing the same or similar products.
a. Examples include the automobile industry or the tobacco industry.
b. Confusion often occurs because many businesses are multiproduct firms.
In output markets, the simple circular flow model, households replace their _________ for _________. Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | g
Which of the given is not a characteristic of a perfectly competitive market structure: w) there are a very huge number of firms which are small compared to the market. x) All firms sell the same products. y) There are no restrictions to entry through
Explain the cause of Trade barriers?
Question Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)
Drawing a production possibilities frontier needs the supposition that: (1) Decision makers encompass discretion over resource accessibility. (2) Technology is constant. (3) Income is fairly distributed. (4) Resources are considerably diverse. (5) At least three goods
There are THREE questions in this assignment. The overall word length for this assignment should be in the range of 2,000-2,500 words. You may incur a penalty if you exceed the upper value. You must state the total number of words
Write short note on Demand?
Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?
Illustrate Qualification in International Trade?
According to the advocates of free trade and World Trade Organization, each and every country potentially advantages from trade liberalization and the lowering of tariffs since each and every country: (1) Has a comparative benefit in something. (2) Ga
18,76,764
1956577 Asked
3,689
Active Tutors
1460488
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!