The market system not only accepts self-interest
Explain the statements: The market system not only accepts self-interest as a fact of human existence.
Expert
The market system not only accepts self-interest as a fact of human existence; it relies on self-interest to achieve society’s material goals. The motive of self interest gives direction and consistency to the economy. Self interest is the primary driving force of market system. Entrepreneurs try to maximize their profits; property owners want the highest price for their resources; workers choose the job with the fringe benefits, best wages as well as working conditions. Consumers apportion their expenditures to maximize their utility, while seeking the lowest possible prices.
Illustrate how Macroeconomics examines the economy as a whole?
Distinguish clearly between a plant, a firm, and an industry?
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
If banana divides are $2, CD disks are $10, and SCUBA vacations are $360, then what is the relative cost of a SCUBA vacation in phrases of a CD disk: (i) 36 disks. (ii) 360 disks. (iii) 180 disks. (iv) 20 disks. (v) 3,600 disks. Q : Determine equilibrium prices market The new supply and demand curves within University City were S0 and D0, before the county commission imposed a $3 per six-pack excise tax upon beer. The new equilibrium quantities of six-packs sold per month and equilibrium prices, respectively,
The new supply and demand curves within University City were S0 and D0, before the county commission imposed a $3 per six-pack excise tax upon beer. The new equilibrium quantities of six-packs sold per month and equilibrium prices, respectively,
Describe redistributive effects of inflation?
What is the most important source of revenue and the major type of expenditure at the Federal level?
Define cyclical fluctuations?
Define the term Weak-form market efficiency. Explain briefly.
Hello, I would like help with my assignment.
18,76,764
1930815 Asked
3,689
Active Tutors
1438259
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!