Illustrate Freedom of enterprise and choice exist
Illustrate Freedom of enterprise and choice exist?
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1. Freedom of enterprise means that entrepreneurs and businesses have the freedom to obtain and use possessions to create products of their own choice, and to sell these products in the markets of their choice.
2. Freedom of choice means:
a. Owners of property and money resources can use resources as they choose.
b. Workers can choose the occupations, guidance as well as job of their choice.
c. Consumers are free to spend their income in such a way as to best satisfy their wants (consumer sovereignty).
Conception of the “Invisible Hand” by Adam Smith relies on mechanisms like those as underpin: (1) William Stanley Jevons’ “sunspot” theory of business cycles. (2) the biological concept of Homeostasis. (3
Explain Government expenditures on goods and services and transfer payments?
Of the given options, the economist whose theories pivoted least upon the distribution of income and wealth (class conflict) in a capitalist system would have been: (1) Adam Smith. (2) David Ricardo. (3) Karl Marx. (4
Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.
If one decisionmaker in interdependent circumstances calibrates its decisions to the anticipated reactions of the other party, in that case the decisionmaker is engaged within: (1) psychological forecasting. (2) profit maximization. (3) collusion. (4) strategic behavi
How will the goods and services be produced?
Elucidate the changing rates of Appreciation and Depreciation?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
What do you mean by Linkages?
Why Public or social goods not be produced through the market?
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