Describe what do you mean by European Union
Describe what do you mean by European Union (EU)?
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1. In many regions of the world, countries have formed free-trade zones to reduce tariffs.
2. The EU, formed in 1958 as the Common Market, now is comprised of 15 western European countries.
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.
To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif
When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that
Explain determining the types of the various products that will be produced?
Comment on the following statement from a newspaper article: “Our junior high school serves a splendid hot meal for $1 without costing the taxpayers anything, thanks in part to a government subsidy.”
Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?
What are the determinants of demand?
What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry.
The “invisible hand” of the marketplace is a word referring to consider as: (w) government policies to set market prices at equilibrium levels. (x) speculative manipulations which create disequilibrium. (y) automatic adjus
What are the reasons for change in expanded production possibilities with women?
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