Q: Explain why correcting a missing market can make everyone better off.
A: The missing market is a type of failure of the market system. The missing market is a type of…
Q: The US market economic system is the same as a command/planned economy. (T or F).
A: In a market, command economic system refers to the situation when the activities performed by buyers…
Q: Why do we have markets, and according to economists, what role should government play in them?
A: Market is a place where the goods and services produced by the companies are exchanged in return of…
Q: Enumerate the possible effects of market failure on you, society, and economy.
A: The market failure refers to the inefficient distribution of resources, goods , and services in the…
Q: In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this…
A: Kinds of economic systems regulate economic choices in various nations. They utilize different…
Q: Microeconomics also known as
A: There are three major economic problem. They are as follows: The needs of the people are unlimited…
Q: Adam Smith's idea of the "invisible hand" says that given a country's resources and its initial…
A: Ans Above statement is TRUE Invisible hand means the market should correct itself without any…
Q: What is “upward and downward causation” in institutional economics?
A: The term institutional economics was announced by Walton Hamilton at a meeting of the American…
Q: How can government prevent market failure?
A: Market failure is the scenario of inefficiency in the distribution and allocation of goods and…
Q: market structure table with example
A: Market structure:- The way industrial sectors are divided and distinguished depending on the extent…
Q: causes of market failure
A: Market failure is defined as when the market operates at an inefficient level of output due to which…
Q: The Invisible Hand' alludes to
A: Invisible hand refers to the market's mechanism of consumers and sellers self adjusting to market…
Q: Market failure means that?
A: The reasons for the market failure can be due to the: positive and the negative externalities,…
Q: What is institutional economics?
A: Institutional economics underlines a more extensive investigation of institution and perspectives…
Q: Beginning in the late 1970s, economic reform in China allowed farmers, for the first time, to keep a…
A: China started a series of economic reforms in 1979. The central government provided farmers with…
Q: Multiple Definition of economics
A: There are several definitions of Economics given over time. We have covered the most important ones…
Q: Why is it important for business leaders to be aware of Micro economics?
A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…
Q: Individuals who come up with a new idea for a good or service, then they make it a reality are…
A: Entrepreneurial economics is a branch of economics that deals with the entrepreneurs and their…
Q: Create a policy that would tamper the market failure.
A: Market Failure: Market failure is an economic situation that generally existed in the free market…
Q: in a market economy decisions are guided by self interest. Hence, there is a) still the ability to…
A: A market economy is a type of economic system in which forces of demand and supply control the…
Q: Discuss in detail the objectives of micro economics
A: Economics is a study under which micro economic factors and macro economic factors are studied.
Q: Which of the market structures is the easiest to penetrate and why? Please explain.
A: There are mainly four types of Market Structures. These are Perfect Competition, Monopoly,…
Q: The private market for education can be considered a market failure because it leads to a price of…
A: Externality refers to the effect of consumption or production of a good on the third party. There…
Q: Markets fail, so there could not be a total reliance on the market forces. The government has to…
A: Economic system means the system in which resources are owned by the society or government and…
Q: What is the closest example to a command economy?
A: The communist society refers to the command economy. In a command economy, there is a monopoly that…
Q: When we call market is imperfect?
A: Market: It is a medium by which the exchange of goods and services takes place.
Q: Giving money to poor family members as help is an example of:
A: Meaning of Social Welfare: The term social welfare refers to the situation under which the…
Q: How SWOT analysis affects the business organization
A: SWOT stands for strengths, weaknesses, opportunities and treats.
Q: Who invented capitalism?
A: Economies are classified into different forms based on the characteristics of their market. Some…
Q: What are the advantages of a market economy as compared to a command economy
A: Market economy is a type of economy in which the private businesses control economic matters.…
Q: What is the meaning of micro economics
A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…
Q: Why does the government answers the basic questions in mixed market economics
A: A system of economy which is a blend of capitalist and socialist system of economy is called mixed…
Q: What is the solution to the attached?
A: OPTION A - Marginal Propensity to Consume MPC = Change in Consumption/Change in Income MPC = ∆C/∆Y…
Q: Analyse the role of market failure as a justification for government intervention.
A: Market failure is a situation when the free market fails to optimally allocate resources. In order…
Q: importance of market structure
A: In economics, market structure refers to how various industries are categorized and distinguished…
Q: thnographic research C) experiment
A: Ethnography is a qualitative research study in a given environment which looks at the social…
Q: What are the main differences between a capitalist (market-based) and socialist (command) economic…
A: There are various types of economic systems depending on the degree of participation of public and…
Q: What is imperfect market
A: The market is a location where the transaction of services and commodities takes place.
Q: Characterize and give examples of markets.
A: There are two forms of market, Perfect form of market and Imperfect form of market. The Perfect form…
Q: utilitarianism have good or bad effects on business?
A: The concept of utilitarianism refers to the belief of doing such things that will bring happiness to…
Q: The incentive to innovate would be reduced because which of the following makes research and…
A: Duplication is the act of making an exact copy of something. In research and development projects…
Q: Give at least 3 Executive orders(EO) or Laws imposed in the philippines that cater the flow of…
A: Answer
Q: Why is it important for business leaders to be aware Marco economics.
A: MACRO ECONOMICS- macro economics is concerned with the problem of economy at aggregate level,…
Q: Is there an economic policy known as "trickle down" economics?
A: The study of economics is the study of how society makes use of its limited resources. Economics is…
Q: The information which is reflected in current market prices with the help of past price movements is…
A: In economics, efficiency refers to the situation when all the goods and the resources are…
Q: Markets will always create more efficient outcomes without government intervention. true or false
A: Markets include demand and supply.Because of markets proper distribution of resources takes place…
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