Technological advancement influencing supply
Describe how technological advancement influence the supply of specific product.
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Technological advancement brings a positive impact in the supply of a specific product. It reduces or decreases per unit cost and raise the productivity of given factors of production. Due to such reasons production of given product becomes more gainful.
The phrase ‘dollar votes’ refers to the consumers: (1) Voting patterns in the national elections. (2) Recognizing what goods are produced. (3) Each containing an equivalent says about what is generated. (4) Being subservient to big firms. Q : Devaluation and depreciation of Distinguish among devaluation and depreciation of domestic currency
Distinguish among devaluation and depreciation of domestic currency
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The thought that the desire of people to purchase goods is culturally recognized as opposed to the price determined is the vision of: (i) Irving Fisher. (ii) Karl Marx. (iii) Thorstein Veblen. (iv) Ludwig von Mises. (v) Antoine Augustin. Q : Negative income tax in welfare system Relation to the current U.S. welfare system, a suitable negative income tax plan would: (1) be much more difficult and more expensive to administer. (2) reduce some of the current disincentives for work. (3) result in a substantial de
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