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).
Describe the meaning of the term “invisible hand.”
Give a brief introduction of the term Operating Leverage?
Which of the given describes a situation in which each good or service is produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the marginal cost of producing this? w) productive efficiency.
Why possession protection of property rights and private property promotes the market system?
What are the facts of inflation?
Define the term Abstractions in economics?
Explain the foundation of economics where society’s material wants are unlimited?
Which of the given is the best illustration of a perfectly competitive industry: w) wheat production. x) steel production. y) electricity production. z) airplane production. Hey friends please give your opinion for
Illustrate the term Economic Rationale?
Illustrate other than price many factors determine the outcome?
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