Distinguish between allocative efficiency and productive
Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?
Expert
Allocative efficiency means that resources are being used to produce the goods and services most wanted by society. The economy is then located at the optimal point on its production possibilities curve where marginal benefit equals marginal cost for each good. Productive efficiency means the least costly production techniques are being used to produce wanted goods and services. Example: manual typewriters produced using the least-cost techniques but for which there is no demand.
Illustrate how Macroeconomics examines the economy as a whole?
Define the term Market Economy and also state its advantages and disadvantages?
Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
Give a brief introduction of the term Cost Principle ?
Describe Quasi-public goods?
Briefly describe cost of equity shares? And also write down way to evaluate the cost of equity shares?
Give a brief introduction of the term Cost of preference shares?
Describe the types of multiplant firms?
According to Adam Smith nation's wealth is, not the gold this possesses, but somewhat it’s: (1) number of people. (2) capability to give goods for its people. (3) foreign investments. (4) domestic financial capital. (5) militar
18,76,764
1949573 Asked
3,689
Active Tutors
1419056
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!