What's in the flow?Use the infomation from your PowerPoint (week-1) to answer the following questions. For each of the scenarios,you should identify:a the market: resource OR productb the factor ofproduction: land, labor, capital, OR entrepreneurships. the product: good OR service1. Rouhaan hashis own business selling shawama at a standin a Mall. For his shawama stand, he growstomatoes in a small garden plot.a. Rouhaan rents his garden plot in the RESOURCE market.b. The garden plot is a Land resource.c. A shawama Rouhaan sells at his standis a2. AZW Productions Inc. just announced a bighit show will play at the Grand Theaterin July.Raja works atthe shawama standinside the theater and says he can help you buy tickets to the showa.AZW Productions Inc. will sell tickets to you in themarket.b. Raja is an example of a_resource.UESmAZW Productions Inc. is selling you a

In the two-sector circular flow of income model, there are two sectors- the households and the…

2. AZW Productions Inc. just announced a bighit show will play at the Grand Theaterin July. Raja works atthe shawama standinside the theater and says he canhelp you buy tickets to the show a. AZW Productions Inc. will sell tickets to you in the. market. b. Rajais an example of a resource. Co AZW Productions Inc. is selling you a

2. AZW Productions Inc. just announced a bighit show will play at the Grand Theaterin July. Raja works atthe shawama standinside the theater and says he canhelp you buy tickets to the show a. AZW Productions Inc. will sell tickets to you in the. market. b. Rajais an example of a resource. Co AZW Productions Inc. is selling you a

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 2PA

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please help me out please Economic Systems Essay Compare and contrast the ways in which traditional, market, and command economies answer the three major economic questions. Your essay should be structured around the three economic questions, and explain how each system answers those questions. Structure: 1. Introduction. 2. What to produce? 3. How to produce? 4. For whom to produce? 5. Conclusion. In each paragraph talk about how the economic systems answer the questions. You can create exmples to make your point.
Let's put dollar amounts on the flows in the circular flow diagram below. Costs BUSINESSES buy resources • sell products $ Resources Goods $ and services Revenue billion RESOURCE MARKET • Households sell • Businesses buy billion PRODUCT MARKET • Businesses sell Households buy Money income (wages, rents, Labor, land, capital, neurial ability Instructions: Enter your answers as a whole number. a. Suppose that businesses buy a total of $200 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $100 billion in wages, $30 billion in rent, and $40 billion in interest, how much are households paid for providing entrepreneurial ability? Interest, profits) HOUSEHOLDS • sell resources .buy products Goods and services Consumption expendit b. If households spend $105 billion on goods and $95 billion on services, how much in revenues do businesses receive in the product market? Note:- Do not provide handwritten solution. Maintain…
Define production and What are the factors of production and what are their reward payments?
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Buffy is thinking about opening an amulet store. She estimates that it would cost $350,000 per year to rent the location and buy the merchandise. In addition, she would have to quit her $80,000 per year job as a vampire hunter. Answer B -E please i know the answer to A. A).Define opportunity cost. B).What is Buffy's opportunity cost of running the store for a year? C).Buffy thinks she can sell $400,000 worth of amulets in a year. What would her accountant consider the store's profit? D).Should Buffy open the store? Explain. E).How much revenue would the store need to generate for Buffy to earn positive economic profit?
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Read the following article and answer the questions listed in regard to argument mapping. Adapt or perish: Australia Post must embrace digital disruptionMost industries are vulnerable to digital disruption of established business models. The question is whether industry should seize the opportunity to reposition themselves in a changing market. Or whether they should wait to be disrupted by external forces, with the prospect of a one-way ticket to oblivion.A new report by UTS Business School for the McKell Institute shows that the pace of digital transformation is now disrupting one of the government’s largest and most iconic business enterprises – Australia Post.Traditionally, mail volumes have grown in alignment with GDP growth. But between 2008-09 and 2013-14, mail volume declined by 25% to 4.5 billion items. This, in turn, has contributed to a major deterioration in financial performance. In the first half of 2014-15, the loss in the mail business was A$151 million and it is…