--%>
Assignment Help - homework help

Goods and service problem

The market system's answer to the fundamental question "Who will get the goods and services?" is essentially: 1) "Those willing and able to pay for them." 2) "Those who physically produced them." 3) "Those who most need them." 4) "Those who get utility from them."

   Related Questions in Microeconomics

  • Q : Flatter demand curves for goods Demand

    Demand curves tend to be flatter for goods such that: (w) are necessities than for luxury goods. (x) absorb smaller shares of family income. (y) have more close substitutes obtainable. (z) have more close complements within consumption.

  • Q : Generating good for the society All

    All along the production possibilities frontier, a society can generate more of a good merely if: (1) This provides some of some other good. (2) Resources are completely employed. (3) All resources are efficiently employed. (4) Consumption surpasses i

    		•
  • Q : Price above marginal cost to minimizes

    When a monopolist which does not price discriminate maximizes profit and its economic profit is zero, this will charge a price: (w) equal to marginal cost and will be at the minimum average cost. (x) equal to marginal cost, but will p

    		•
  • Q : Problem regarding Bilateral Monopoly

    The bilateral monopoly model is most likely most applicable in analyzing a case where a: (1) Major employer collectively bargains with the influential union. (2) Firm consists of monopoly power in output market and monopsony power in the labor market. (3) Labor market

    		•
  • Q : Screening and Credentialism The critics

    The critics of ‘credentialism’ suppose that firms making employment decisions tend to mainly rely too heavily on: (i) Personal contacts. (ii) Personality testing. (iii) Past experience. (iv) Job interviews. (v) Formal education and trainin

    		•
  • Q : Equilibrium market price and quantity

    Equilibrium market price and quantity would definitely both falls when demand declines and supply will: (w) decreases. (x) increases. (y) is constant. (z) pulsates rhythmically. I need a good answer on the topic of

    		•
  • Q : Problem regarding law of Diminishing

    Can someone help me in finding out the right answer from the given options. According to the law of diminishing marginal utility, the longer that Chris and Lee kiss: (i) The less invested each will be in enduring this relationship. (ii) The closer they are to arriving

    		•
  • Q : Drop in interest rates of capital market

    Any drop in interest rates caused through people’s increased willingness to save, which will cause: (w) the rate of return schedule reflected in I0 to shift to the right. (x) the rate of return schedule reflected within I0 to shift to the left.

    		•
  • Q : Tax in long run relatively inelastic

    You daily buy author-published books of poetry that are relatively inelastically supplied within the long run. Then government imposes a tax upon books of poetry. Then tax is probable to be borne primarily through: (1) retail book stores. (2) consumer

    		•
  • Q : Define Indirect taxes Indirect taxes :

    Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.

    		•