numbers of sellers in pure competition?
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
Illustrates the inverse relationship between price and quantity?
According to the equivalent share criterion of the distribution, individuals must: (1) Share income according to personal requirement. (b) All make equivalent shares of output. (3) Each consists of incomes equivalent to their productive output. (4) Re
Illustrate Freedom of enterprise and choice exist?
What divergences arise between equilibrium and an efficient output spillover benefits are present? How might government correct this divergence?
How will the goods and services be produced?
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Adam Smith and the “typical liberal” economists who followed within his footsteps viewed persistent monopolization and market power as: (1) ineffective and best regulated through government. (2) crucial in finding the rate of technological
Briefly describe composite cost of capital? And also describe the procedure to calculate composite cost of capital?
Explain the foundation of economics where society’s material wants are scarce resources?
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