Millions of economic resources tend to get arranged logicall
What explains why millions of economic resources tend to get arranged logically and productively rather than haphazard and unproductively?
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Through the ownership of private property, resource owners will choose to use their resources in a manner that will maximize benefits to themselves (the invisible hand). This will result in the resources being utilized in the way that will best serve human goals (allocative fficiency).
Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal
As per to the laissez-faire philosophy of government,: (1) economy works best while all investment decisions are centralized. (2) market system works best along with only minimal government intervention. (3) government must be restricted to stabilizin
Elucidate how to maintain competition?
When the market price is $25, then the average revenue of selling five units is: w) $5. x) $12.50. y) $25. z) $125. Please guys help me to solve out this type of problem regarding profit in a perfectly competitive market
Explain producers in an industry are receiving pure or economic profits?
For rapid growth of world trade what are the factors of account since the Second World War?
You may use a calculator and MINITAB to conduct the necessary calculations for all questions. Analysis of US GDP and GDP growth rate (1959-2004). The following variables can be retrieved from MIN
What are the Causes and theories of inflation?
Economic efficiency for society needs which the: (i) opportunity costs of all goods be at their lowest possible values. (ii) maximum probable benefits are acquired for given costs. (iii) greatest possible net benefits are squeezed through available re
Elucidate the changing rates of Appreciation and Depreciation?
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