Explain the behavior of the workers
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Expert
Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals. Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).
The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay. Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.
Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade
Define cyclical fluctuations?
What 2 points are required to emphasis foreign exchange market?
The market-based economic system: (1) Appears to be ‘natural’ as it has existed in all societies. (2) Has dominated the economic relationships in United States since from the year1492. (3) Guided resource allocation in middle ages. (4) Is
Growth is a significant economic goal. Explain?
Economics professors would attribute students’ higher rates of attendance on days while examinations are administered to the: (w) intensified needs to learn valuable material. (x) higher opportunity costs of missing set relative to other schedul
Production Possibility Curve: Similar to the individuals, a society as entire has restricted resources. It has to decide what to manufacture with restricted resource
What do you mean by spillover. Write short note on it?
Illustrate the supply curve and also determinants of supply?
In heterodox economics, what implications does technical change and vintage technology contain for the cost structure of the business enterprise?
18,76,764
1960040 Asked
3,689
Active Tutors
1430424
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!