Use of human and material resources
What are the merits of speciality in the use of human and material resources?
Expert
The merits of speciality for labours which have openings decide efforts to their perfect talents as well as keep the time to shift frequently from 1 task to another. For a precise use material resources will be developed as well as modified. On a regional basis, each province will produce those commodities for finest suited. Each region as well as set of person and to maximize efficiency material resources is being used by focusing in its advantage.
Illustrate the term Economic Rationale?
What explains why millions of economic resources tend to get arranged logically and productively rather than haphazard and unproductively?
Transaction costs tend to be decreased, prices to consumers are classically stabilized and lowered, and economy-wide efficiency is generally improved through: (1) rigid wage and price controls. (2) central planning that fosters monopo
How does society decide its optimal point on the production possibilities curve?
Question Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)
Business Report Objectives This assessment item relat
Suppose that on the basis of a nation's production curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. Relate this information to the following statement: "Thr
Relative to other systems, economies in that people exchange goods or resources directly along with other people for other goods or resources without using money like a usual denominator rely relatively heavily upon: (i) barter. (ii) specialization. (
Briefly explain the term Average cost and Marginal cost?
Describe Spillovers and externalities?
18,76,764
1956948 Asked
3,689
Active Tutors
1446335
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!