employment
distinguish between full employment and under employment
To economists, the noun ‘market’ signifies to: (1) The geographic place where many products are sold. (2) Any institution which enables sellers and buyers to strike bargains. (3) The New York Stock Exchange. (4) Selling goods and resources or stocks and bo
When brick-making is a constant cost industry, during the long run this firm is probable to experience: (i) a severe shrinking of economic profit to zero. (ii) a decline in the price of bricks to approximately eight cents apiece. (iii) increased compe
Sally is very rich that money hardly matters to her, although when the price of JIF chunky peanut butter doubled Sally switched to Peter Pan chunky peanut butter. This alters is an example of the: (1) Income effect. (2) Payback effect. (3) Substitution effect. (4) Pri
DVD sales are most probably to rise over the long run when the: (w) supply of live entertainment rises. (x) government imposes stiff taxes upon video tapes. (y) technology carries on to advance. (z) prices of theater tickets fall.
Describe the Law of Diminishing marginal utility? Answer: Law of Diminishing marginal utility: As a consumer goes on consuming more and more units of a commodity th
Let think about the law of demand. The idea that a big price for a normal good will outcome in less of the good being bought never based logically on the: (i) Income effect. (ii) Demand for the good falling since of the higher price. (iii) Law of redu
Can someone please help me in finding out the accurate answer from the following question. The most general legal form of business in United States is: (1) Sole proprietorships. (2) Partnerships. (3) Cooperatives. (4) Corporations.
Why is demand curve facing a monopolistically competitive firm probable to be very elastic?
I have a problem in economics on Derived Demand for resources. Please help me in the following question. As demands for the resources ultimately based on consumer’s demands for goods then the demand for labor is: (1) Termed as a derived demand.
Which of the given two statements involves positive economic analysis and which normative? How do the two type of analysis differ?a. Gasoline rationing (allocating to each year to each individual an annual maximum amount of gasoline whi
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