Should third World limit pollution
‘In developing countries there are some controls on aspects of pollution like exhaust fumes. How would you evaluate whether these countries, from their point of view, must invoke legislation to enhance the atmosphere in these respects?’
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It relates welfare economics to this significant question which frequently gains media attention. This considers the opportunity cost of these controls.
Can someone please help me in finding out the accurate answer from the following question. The prices beneath the intersections of supply and demand curves cause: (i) Shortages. (ii) Surpluses. (iii) Demands to expand. (iv) Inventories to grow. (v) Sc
When market demands for agricultural products are relatively price inelastic and relatively income inelastic both, in that case as per capita income raises, the average income of farmers will: (w) increase while supplies of agricultur
Rising economic profits within a competitive market do NOT produce pressures for: (i) expansions of existing firms. (ii) entry by new firms. (iii) price hikes. (iv) increases in costs for specialized resources. (v) ultimate erosion of
All along the production possibilities frontier, a society can generate more of a good merely if: (1) This provides some of some other good. (2) Resources are completely employed. (3) All resources are efficiently employed. (4) Consumption surpasses i
Techniques of how to produce?: Broadly, there are two main methods of production. (i) Labour intensive Technique: Under this method, production depends mostly on the
Types of market in economy: There are two kinds of market in this economy: Factor market-for Factors of Production and Product market-for goods and Services.
Types of elasticity of supply: There are five kinds of elasticity of supply:1. Perfectly elastic supply: Q : Slope of indifference Curve State the State the slope of indifference Curve? Answer: Slope of indifference curve is equivalent to MRS, that is, Marginal Rate of Substitution.
State the slope of indifference Curve? Answer: Slope of indifference curve is equivalent to MRS, that is, Marginal Rate of Substitution.
When do we state that there is an excess demand for a commodity in the market?
Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.
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