Why businesses are not really free to produce
Why businesses are not really “free” to produce what they wish?
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Businesses are not really “free” to produce what they wish. Their production choices with consumer choices or face losses and eventual bankruptcy have to match. Profit-seeking firms must consider the allocation of the “dollar votes” when they make their production decisions. Resource demand is a “derived” demand, i.e. it depends on the demand for the products produced by the resource.
Illustrate how Macroeconomics examines the economy as a whole?
Why Public or social goods not be produced through the market?
The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3
Describe the types of multiplant firms?
How will the goods and services be produced?
When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag
Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans. However, the recycler charges you $.20 per bundle to accept your old newspapers.
Question: To determine the real exchange rate, what two pieces of information do you need in addition to the nominal exchange rate? Answer: Q : Freely Floating Currency Question: For Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________
Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________
According to the equivalent share criterion of the distribution, individuals must: (1) Share income according to personal requirement. (b) All make equivalent shares of output. (3) Each consists of incomes equivalent to their productive output. (4) Re
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