Technological advances in producing goods

When given resources can now produce additional goods than was previously probable, then there have been a: (1) Stock market boom. (2) Competitive spurt which shrinks entrepreneurial gain. (3) Concavity reversal in the production possibilities frontier. (4) Bigger reliance on the effectiveness of capitalism. (5) Technological advance.

View Complete Question

Related Questions in Business Economics

Q : Good economic policy requires good

Explain the statement: “Good economic policy requires good economic theory.”?

Q : Use of human and material resources

What are the merits of speciality in the use of human and material resources?

Q : Distinguish between allocative

Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?

Q : Explain the Market System Specialization

Explain the Market System Specialization?

Q : Briefly state the pros and cons of

Briefly state the pros and cons of Proprietorship?

Q : Define explicit cost and implicit cost

Briefly describe the term explicit cost and implicit cost?

Q : The market system provides such a

Explain the statements: The market system provides such a variety of desired goods and services precisely.

Q : Meaning of invisible hand according to

Adam Smith’s opinion of an “invisible hand” powerfully implies the meaning that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most peopl

Q : Illustrate Freedom of enterprise and

Illustrate Freedom of enterprise and choice exist?

Q : Cornerstone of typical economic theory

The cornerstone of typical economic theory derived through the work of Jeremy Bentham was the perception of (i) the wages fund. (ii) natural checks on population. (iii) increasing cost. (iv) utility. (v) surplus value.

Discover Q & A

Leading Solution Library

Avail More Than 1426738 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1940322
Asked

3,689

Active Tutors

1426738

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment