Increase the overall effectiveness of the market system
How the government can increase the overall effectiveness of the market system?
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Although the market system promotes efficiency, it has certain shortcomings over production of goods with social costs, under production of goods with social benefits, tendency for business to increase monopoly power, macro instability.
What are economic resources? What are the major functions of the entrepreneur?
Illustrate Rational Behaviour of Economic Perspective?
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.
Briefly explain the term Price Earnings Ratio (or P/E Ratio)?
Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
Explain the foundation of economics where society’s material wants are Resource payments correspond to resource categories?
How do households dispose of their income?
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
What was rightward shift of PPC point out? Answer: It points out growth of the resources.
Write down the importance of Price Earnings Ratio?
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