If resources were unlimited and freely available
Explain this statement: “If resources were unlimited and freely available, there would be no subject called economics.”
Expert
If resources were unlimited and freely available, making choices would not be necessary. Every person could have as much as they wanted of any good or service. Science of choice should be unnecessary in Economics.
XY School District has a large number of students in need of remedial instruction. The superintendent of XY School System can allocated her budget between purchasing X units of remedial instruction at a price of $2,000/unit and spending an amount ($Y) on all other sch
Lets assume an infinitely repeated prisoner’s dilemma game by two players. The resulting payoffs at each phase by the actions of two players are illustrated below in the table (payoffs are symbolized like (payoff for player 1, payoff for player 2)). Two players
Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?
Elucidate the various trade which enacted by governments?
In Wealth of Nations by Adam Smith, opined that the productivity of labor based primarily on: (w) workers’ education. (x) divisions of labor. (y) technologically advanced machines. (z) suitable wage rates. Q : The demand curve when each of these What happens to the demand curve when each of these determinants changes?
What happens to the demand curve when each of these determinants changes?
A laissez-faire government is restricted to finding: (1) property rights within a simple fashion and to enforcing private contracts. (2) market prices which guarantee equitable resource allocations. (c) how resources will be allocated efficiently. (4)
Contrast how a market system and a command economy try to cope with economic scarcity?
Explain the statements: Entrepreneurs and business are at the helm of the economy.
Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
18,76,764
1960945 Asked
3,689
Active Tutors
1429273
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!