--%>
Assignment Help - homework help

Elucidate Reliance on technology and capital goods

Elucidate Reliance on technology and capital goods of the market system?

E

Expert

Verified

1. Competition, freedom of choice, self-interest, and the potential of profits provide the incentive for capital accumulation (investment).

2. Advanced technology and capital goods uses the more efficient roundabout method of technology.

   Related Questions in Business Economics

  • Q : Utility with food coupons Question: In

    Question: In Vancouver the Salvation Army encourages people to make food voucher donations to panhandlers instead of simply giving them cash. You can buy a food voucher for $5 and give it to a panhandler who can use it to purchase food. The Sa

    		•
  • Q : Meaning of Economic Development

    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?)

  • Q : Elucidate The General Agreement of

    Elucidate The General Agreement of Tariffs and Trade (GATT)?

    		•
  • Q : Reasons for change in expanded

    What are the reasons for change in expanded production possibilities with women?

    		•
  • Q : Problem on opportunity cost buying a

    After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o

    		•
  • Q : How can we calculate Price earnings

    How can we calculate Price earnings ratio?

    		•
  • Q : Price competition My friend can't

    My friend can't succeed to get the answer of this question. Give me solution of this question. From a heterodox perspective, why does destructive price competition drive enterprises to set up market institutions which would abolish price competition?

    		•
  • Q : How government might manipulate its

    Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?

    		•
  • Q : Problem on utility function Matt’s life

    Matt’s life is divided into two time periods, young and old, and his utility is a function of two “goods”:  consumption when young and consumption whenever old.  Consumption when young and consumption when old are both of normal goods to Ma

    		•
  • Q : Symptoms of governmental interference-

    Adam Smith and the “typical liberal” economists who followed within his footsteps viewed persistent monopolization and market power as: (1) ineffective and best regulated through government. (2) crucial in finding the rate of technological

    		•