Please no written by hand solution Which of the following statements is TRUE? Worldwide markets function so well because: I. everyone acts in their own self-interest. II. millions of people voluntarily cooperate in markets. III. governments set appropriate prices in markets. IV. there is much undirected cooperation between buyers and sellers. I and II I, II, and IV All of these statements are correct. II, III, and IV
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Which of the following statements is TRUE? Worldwide
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- Statement 1: in market economies, governments frequently take over failing businesses whose continuing operation is deemed critical to national interests Statement 2 In mixed economics, governments are more likely to take failing businesses into state control if they are deemed critical to national interests Statement 3 all products activity in market economies are privately held Staement 4 a countries commodities and services are planned by the government under command economies Which of the following is true? Group of choices: ST 2,3 and 4 all True ST2,3 and 4 False Only ST 1 True Only ST 4 True None of the choicesNew Zealand is a country with a lot of natural resources. They produce goods and services by maximizing the use of their resources and minimizing wastes. The Minimization of wastage as a central economic problem resolved by New Zealand is related to ______________. a. How to distribute the products and services? b. What goods and services to be produced? c. The problem of efficiency. d. How to produce the goods and services?in a market economy decisions are guided by self interest. Hence, there is a) still the ability to achieve desirable economic well-being for society as a whole b) a strong need for government intervention in the market c) less efficiency in market economies than in command economies help me with this please
- Which kind of market do you think is better for the development of an economy? Market Intervention or free market? Prove your argument by providing material like the difference between the two, the advantages and disadvantages to the economy etcIn free market (liassez-faire) system, the price mechanism dicates the production planning (how to produce) decisions. True or flase Free markets produces relatively high levels of efficiency but low rates of growth. True or Flaseexplain whether there has been a market failure, what type of failure, and what measures might solve it, You should consider: the advantages and disadvantages of any solution whether doing nothing might be the best solution the concept of efficiency. The only large employer in a local area pays its employees a low rate, and working conditions are poor. There is high unemployment in the area
- 25. Compared with the effect of growth in population and resulting changes in its structure, growth of per capita income is likely to have a much bigger effect on demand for food because: A. Rich people buy more food B. Rich people buy better quality food C. Rich people consume more diversified food D. All the above 26. Some critics of modern agriculture argue that the interface between the environment and food production is likely to create critical constraints on future food production. They support their arguments by all the following, except: A. The world has already expanded agricultural production into areas that cannot sustain it B. Yields from current production methods have reached their plateau C. Countries around the globe are switching to production methods that do not use fertilizers and chemicals and are maintaining the same yields as from methods that use more and more fertilizers and chemicals D. Intensive agriculture has led to degradation of land and water…“For most of the last 15 years, capital has been cheap. Since 2009, the after-tax cost of borrowing for some large companies has been below the rate of inflation, making their debt in real terms cost-free. All that changed in March 2022, when the world’s central banks began raising rates to curb rising inflation.” The paragraph above is an example of: a. factors of production b. opportunity cost c. market failure d. externalities1.1 Market failure implies that the market mechanism...a) leads the economy to a point outside the production possibilities curve.b) leads the economy to the wrong mix of output.c) causes shortages or surpluses in the market.d) causes government failure.
- Markets fail, so there could not be a total reliance on the market forces. The government has to intervene, which gives rise to what i0s referred to as a --------------------- economySupposed that there is widespread inefficiency in agricultural production in a region, due to low uptake of new information and new farming practices. Now suppose that agricultural extension services provided by the government lead to higher efficiency in production. a) Is this likely to improve overall wellbeing among farmers in the region? Does the answer to this question depend on whether the low efficiency prior to the government intervention is due to low allocative efficiency, low technical efficiency, or both? b) Does your answer to (a) depend on whether raising efficiency is costless for the farmers or not? Illustrate your answer graphically.How does a market failure cannot deliver theoretical benefits and what are its effects on the economy?