--%>
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 : Demand often exceeds supply and supply

    “In the corn market, demand often exceeds supply and supply sometimes exceeds demand.” “The price of corn rises and falls in response to changes in supply and demand.” Among these 2 statements used correctly which in the terms “supply&rdq

    		•
  • Q : Explain the shapes of the

    Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product.  If current output is such that marginal cost exceeds marginal benefit, should more or l

    		•
  • Q : Need urgent help need urgent help in

    need urgent help in business economics, please suggest

    		•
  • Q : Utilization of resources in production

    The points on a production possibilities curve communicate to combinations of goods which: (1) Can’t be generated with no technological advances. (2) Utilize all resources fully and efficiently in the production. (3) Can be generated, however use economic capaci

    		•
  • Q : Distinguish between allocative

    Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?

    		•
  • Q : Illustrate the 3rd the government

    Illustrate the 3rd the government redistributes income?

    		•
  • Q : Describe advertising costs or

    Advertising costs or persuasive advertising: When the expenses incurred by a find to persuade the potential consumer to present their brands or products as different or better compared to another brands or products is termed as advertising costs or pe

    		•
  • Q : Factors of account since the Second

    For rapid growth of world trade what are the factors of account since the Second World War?

    		•
  • Q : Checkout problem A grocery store chain

    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

    		•
  • Q : Illustrate the complex cases when both

    Illustrate the complex cases when both supply and demand shift?

    		•