It Is Too Little Air Traffic Control

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1. The fact that some airplanes collide is evidence that there is too little air traffic control. Evaluate. This is a false statement because airplane collision can be eliminated through the provision of better safety control measures. This is a measure of opportunity cost by the Airplane Company whereby safety is traded off by other factors to reduce cost of air traffic control and substitute it with other company cost such as charges incurred during air flights. Opportunity cost is the value of the forgone in order to take an alternative action. This can be seen as an economizing behavior that makes use of unlimited resources so as to satisfy other unlimited wants. Opportunity cost makes people to make a choice between what is more…show more content…
Immigrants going back to their native country would also benefit me in my native country as there would be a reduced population in the country and an increase in labor market to fill the gap left behind by the foreigners. Therefore, when there is an increase in the flow of immigration in the country there would be higher incomes for other productive factors which are in complement with the immigrants but also it will lead to lower income to other factors that create competition with the immigrants. 3. When a group of Russian officials touring American farms asked who told the farmers how much to produce in order to supply the appropriate amounts of goods, the farmers said that no one told them. But the Russians were convinced that farmers were concealing something. What would you have told the Russians? There is a market trend of supply and demand in an economy and this is measured through the equilibrium process and the actors that affect supply and demand. The farmers are the market suppliers and hence they determine their produce by measuring the equilibrium market prices and quantities. The suppliers are aware that when the prices of commodity increases the demand of the same commodity decrease and when demand increases supply decreases until the market reaches an equilibrium point. There are various factors that affect
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