Illustrate the characteristics of the Market System
Illustrate the characteristics of the Market System?
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Most of the private property Private individuals and firms own (land and capital):-
1. Private property, coupled with the freedom enables individuals, to discuss binding, legal contracts and businesses to acquire exploit, control and organize of this property.
2. Private property rights encourage innovation, venture, maintenance of property, exchange of assets as well as economic growth.
3. Property rights extend to intellectual property through copyrights, patents as well as trademarks.
Evaluate and explain the statements: “Competition is the essential despot of the market economy”.
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.
Illustrate other than price many factors determine the outcome?
What are the 2 definitions of economics growth?
What are the Examples and Applications of International Trade?
What happens in the product markets?
What are the 4 phases of the business cycle?
Describe the Euro?
Briefly state the pros and cons of Partnership?
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