The invisible hand refers to the Multiple Choice tendency of monopolistic sellers to raise prices above competitive levels. fact that government controls the functioning of the market system. fact that the U.S. tax system redistributes income from rich to poor. notion that, under competition, decisions motivated by self-interest promote the social interest.

Q: Decide whether each of the following descriptions most closely corresponds to being part of a…

A: ANS A command economy is a form of economy where any economic problems are solved according to the…

Q: The theory that states that country will produce and export only such products that use large…

A: Adam Smith was amongst the first economist who developed the theory of international trade in his…

Q: dam and Zoey are competing fish and chips sellers in Linear City. They are located at the two…

A: Advertisement: It refers to the process that help in endorsing the product. The advertisement is the…

Q: "Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a…

A: Given the statement is  Every gun that is made, every warship launched, every rocket fired…

Q: Below is the economic statement conditions. Identify the type of economic system explain. Enumerate…

A: Economics is a social science because it studies the social problem of choice from a scientific…

Q: ou are a minimum-wage worker at a U.S. company that makes cars. Last month’s finance report on your…

A: Difference between total costs and total revenue gives total profits of a firms. Number of output…

Q: Peers, culture, advertising, and even confusion can be considered forms of   A Supply B Demand C…

A: Opportunity is the chance that helps to make something possible to do in business or other sectors.

Q: Laissez Faire economics was used by business leaders as a means to establish:   A partnership…

A: A market economy gives businesses more room and autonomy from government rules and regulations that…

Q: Economics film is a film genre concerned with themes and topics that fall broadly the umbrella of…

A: The science that tends to deal with distribution, production as well as consumption of services and…

Q: Adam Smith's invisible hand refers toa.the subtle and often hidden methods that businesses used to…

A: In economics, the main goal of all economic agents is to satisfy their unlimited desires and wants…

Q: Bedrock Real Estate wanted to produce a film showing that the clichéd downtrodden views of Detroit…

A: The aim of Bedrock Real Estate is to make Detroit residents feel proud of where they live.

Q: Social Darwinists had a different take on the utilitarian justification for free markets. They…

A: Economic competition refers to the situation where the firms are seeking for obtaining shares of…

Q: Rationing of most scarce goods and services in a capitalist economy is done by:   Group of answer…

A: Rationing is described as the artificial restriction of demand or the control over the allocation of…

Q: Examples of this market from uae or Gcc countries :  1- competitive market: 2-monopoly :…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: 1. It is one of the barriers to entry when the dominant firm (or firms) may take actions explicitly…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Using a historical instance as an example, explain how the State helped to create the conditions for…

A: Under socialism, the state claims the method for the creation and endeavors to coordinate monetary…

Q: 18. Market: Video rental store market Increase or Decrease: Scenario: Online streaming for movies…

A: a) Scenario:- Online streaming for movies causes many movie rental stores to close. Effect:- Demand…

Q: “Creative destruction” is the process by which: a. Old buildings are demolished and new ones are…

A: The economics as a study is considered to be of utmost importance for the proper working of the…

Q: Match the following: the property of distributing economic prosperity uniformly among the members of…

A: 1)The property of distributing economic prosperity uniformly among the members of society-equality.…

Q: One aim of e-procurement is increased choice of suppliers by sourcing items a. None of the above b.…

A: Obtaining goods or services being for purposes of business is known as the act of procurement. This…

Q: Question 3 During the          ["Tang", "Sui", "Song"]         dynasty, sports became less…

A: The period of the Tang dynasty was a time of rapid growth in China, where the economy flourished to…

Q: Discuss three cases of market failure, focusing on the reasons why they fail.

A: A market failure occurs when resources are not allocated effectively in a free market economy. A…

Q: The transformative effects of competition that foster the development of new products or new…

A: The benefits to society will be greater in economies where entrepreneurs can operate flexibly,…

Q: Which of the following is not a constraint in achieving technological and economic efficiency? a.…

A: In a market, economic and technological efficiency is needed to improve the production process that…

Q: Principle #1: People (Including Individuals and Society As a Whole) Face Tradeoffs Principle #2: The…

A: Externality is a situation where a person/economic agent is affected by the consumption of a…

Q: Which of the following describe South-East Asian economic centre?   Prevailing entrepreneurial…

A: An economy is a collection of organisations and structures that help or hinder the production and…

Q: 35. Market Model: There are dozens of pasta producers that sell pasta to hundreds of Italian…

A: A market is a place where the buyers and sellers interact and determine the price of a commodity.…

Q: Interaction of demand and supply = Markets: Market efficiency: Allocative efficiency Community…

A: The law of provide and demand could be a theory that describes however sellers of a resource…

Q: Please provide answers no need long explanation just a simple one. Scenario: As more and more…

A: The equilibrium price and quantity of any good are determined by the intersection of the demand and…

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: Recent years have seen the introduction of Uber and Lyft, which enable customers to find a ride…

A: The growth and popularity of these two company was just amazing.

Q: 2. Which one of the following features the academic research a) none of the choices b) Publidy…

A: Academic research refers to a “Systematic investigation into a problem or a particular situation,…

Q: Prior to 2003, the city of Boston was often one big parking lot. Traffic jams were common, and it…

A: When there are no fees, the equilibrium is achieved at point EMKT. This implies a usual equilibrium…

Q: In economics, the operation of the competitive market model (Perfect Competition) produces efficient…

A: Perfect competition market consists of large number of sellers who are price takers as the market is…

Q: Explain different types of competition and  also state why is competition good for the consumer from…

A: Competition in economics imply a scenario in which various economic agents like buyers or sellers,…

Q: Discuss how Joseph Schumpeter characterized capitalist economies by the process of 'creative…

A: Joseph Schumpeter was one of the most eminent and influential economists of 20th century and he…

Q: The 'invisible hand' of Adam Smith acts in a free market system with active competition, aligning…

A: Invisible hand is the approach introduced by Adam smith, gives the LET DO/LET GO approach to the…

Q: In the area around a local university, a number of food vendors gather each lunchtime to sell food…

A: Personal marketing, typically called face-to-face marketing, is once a salesman makes an attempt to…

Q: Car Manufacturer Scenario: You are a minimum-wage worker at a U.S. company that makes cars. Last…

A: Given the number of cars sold = 200 Cost of cars = $2000000 Revenue from cars = $2400000

Q: Explain lack of information to entrepreneurs as a cause of market failure

A: In a market, any transaction consists of two parties- buyer and seller. The seller provides…

Q: Ronald Reagan was elected as governor because of his views on a. tax relief. b. anti-intellectualism…

A: Governor: the person controlling the state or region.

Q: policies government can have in place  to increase perfect competition in the market

A: Perfect competition is a market system in which all producers and consumers have complete and…

Q: When Tanner watches a movie on Netflix, their viewing is movie at the same time. in consumption…

A: Answer -

Q: Productive efficiency refers to:         the use of the least-cost method of production.        the…

A: The productive efficiency of the firm is the ability of the firm to produce the maximum possible…

Q: How does a lack of competition affect prices and output?  Describe what the role of government is in…

A: The markets are the place where the buyers of the products tend to interact with the producers. The…

Q: n an online business, which of the following can be classified as an opportunity? A.Well known…

A: The use of web-based platforms to promote, market, and publicise a firm and its brand is referred to…