Who will get the goods and services
Who will get the goods and services?
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1. The answer to this question is directly related to how the income is distributed among the individuals and the households and the tastes and preferences of consumers.
2. Products go to those who are willing and able to pay for them.
3. The productivity of the relative supply as well as the resources of particular resources also the possession of resources will determine the income of individuals and households.
4. The resource markets are linked to this decision, which conclude income.
Briefly describe the term explicit cost and implicit cost?
Explain and give an illustration of (a) the fallacy of composition; and (b) the “after this, therefore because of this” fallacy. Why are cause-and-effect relationships difficult to isolate in the social sciences?
Give a brief introduction of the term Financial Leverage?
Describe three ways to finance corporate activity. Make a case that stocks are more risky for the financial investor than are bonds?
How will the system accommodate change?
Why is the problem of unemployment a part of the subject matter of economics?
Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers. Q : Describe GDP gap and Okun’s Law Describe GDP gap and Okun’s Law?
Describe GDP gap and Okun’s Law?
Elucidate the changing rates of Appreciation and Depreciation?
What is the opportunity cost of attending college? In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs. How might this difference relate to opportunity costs?
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