Toiva and Ali were relaxing in a local coffee shop after school. Ali looked at his coffee and said, "Sometimes I think that, by drinking this, I'm hurting others." What do you think he meant?

Q: What is the importance of supply chain?

A: Supply chain management involves the activities that are from the supply side to maximize the…

Q: Is capitalism humane?

A: Capitalism can be defined as a system which is owned and controlled by the private sector or owners…

Q: If your economics class were graded on a curve and everyone agrees to study only half as much,…

A: Based on the given data, we create the following table: OTHERS / YOU Study More Study Half No…

Q: What do we mean by "marginal social cost"? How does it differ from marginal cost?

A: The term externality is defined as the external cost or benefit to third person who is not involved…

Q: Please can you help me with this question, what is the mailbox rule and can you give some modern…

A: Definition It is an exception to the common contract law. Under this the contract acceptance takes…

Q: What’s the invisible hand?

A: The concept of the invisible hand was introduced by Adam Smith in his 1759 book The Theory of Moral…

Q: What is the Benefit-cost ratio?

A: The process of analyzing the total benefits and total costs associated with the implementation of a…

Q: If economic laws are applicable in real world?

A: Economics is based on the activities of real life. It analyses the economic activities and then…

Q: How can government prevent market failure?

A: Market failure is the scenario of inefficiency in the distribution and allocation of goods and…

Q: Under its former President Hugo Chavez, Venezuela moved from a Capitalist economy to a Socialist…

A: Hello. Since you have posted multiple parts of the question and not specified which part of the…

Q: If a school library has 150 different books (one copy of each), in how many ways can you distribute…

A: Given: Number of books = 150 Number of kids = 80

Q: Why do we formulate policy?

A: A policy is a set of principles intended to direct decisions and produce objective outcomes. A…

Q: "…two prostitutes came to the king (Solomon) and stood before him. One of them said, ‘My lord, this…

A: Asymmetric information refers to the situation where one party has a better knowledge than the other…

Q: How does drug addiction affects microeconomics?

A: Microeconomics is one of the major branches of economic which is concerned with the study of…

Q: What about s the practical importance of economic law? Explain in 250 words

A:

Q: What will happen if there is no scarcity? Explain.

A: Scarcity is the basic problem of economic and it refers to the gap between the scarce – resources…

Q: in your own words, discuss the operation of capitalism.

A: Capitalism is one of the types of economies that explains a specfiic market structure according to…

Q: What is a social economy? Why is it considered to be happening already?

A: Economies are classified into different types based on the economic activities performed by the…

Q: If dairy famrers use automatic milking machines instead of milking by hand, which economic question…

A: There are three economic problems faced in an economy: 1) What to produce – Due to the scarcity of…

Q: In which type of economy does only the government make economic decisions?

A: The economy in which the only government make or take the economics decisions are the  CENTRALLY…

Q: What is collusion in economics

A: Answer to the question is as follows:

Q: What are some examples of a command economy? Market Economy?

A: In a command economy, macroeconomic and political contemplations decide resource allocation. Command…

Q: What are the economics market

A: The market is a location where the transaction of services and commodities takes place.

Q: Is it better to have a high or low dependency ratio?

A: A dependency ratio is a ratio that measures the age-population aged between 0-14 and above 65 that…

Q: What are market failures?

A: Equilibrium in a market occurs when the demand curve, and the supply curve intersects. At this level…

Q: why is it important to learn the criticism of global city?

A: A world city is also known as a "global city." It is a node in the global economic network that is a…

Q: Suppose that you got up early this morning to buy a concert ticket for your favorite band. You had…

A: In economics, the true cost can be defined as the cost in the economy which includes NE {negative…

Q: How is capitalism thought to benefit society?

A: Capitalist economy: - it is that economic system where the price, quantity, and types of goods and…

Q: KIND can be considered a "social enterprise." Again, what does the term mean? Whatever the term…

A: Social Enterprise: Businesses that change the world for the better are known as social enterprises.…

Q: What is an example of a problem in the world today, not mentioned in the chapter, that has an…

A: The economic dimension deals with all of the event firm and individual event's economic…

Q: How do you think a centrally planned economy versus a market economy would perform under each…

A: Economy is the system where people earn their livelihood. And there are mainly three types of…

Q: What Is Cost-Effectiveness Measures?

A: Cost(C) is an important component of production. The ‘cost of production’ refers to the total…

Q: How can clothing industry be economic sustainable?

A: The clothing industry can be made sustainable if the following points are kept in mind :

Q: Briefly explain what schumpeter meant by the concept CREATIVE DESTRUCTION by giving an example

A: Answer: Schumpeter described creative destruction as the innovation in the manufacturing process…

Q: Explain whether or not this is true. Be sure to address each of the following in your explanation:…

A: Capitalism refers to the type of market in which the prices of the goods and services is ascertained…

Q: capitalist

A: On the basis of ownership and functioning an economy can be classified into three, that is the…

Q: What are the type of market failures? And give one specific example for each and describe it.

A: Market failures:- When the free exchange of commodities and services fails to meet the production…

Q: In SpringbokVille pieces of paper called bucks are the only item that buyers give to sellers when…

A: Meaning of Exchange Rate: The term exchange rate refers to the situation under which a particular…

Q: One of the famous Utopian Socialists, Robert Owen, disagreed with Adam Smith that self-interest…

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

Q: What is ecological about ecological economics?

A: Ecological economics examines the world and draws interdisciplinarily from principles of biology,…

Q: What are the types of economic systems? How will you differentiate Command from a Market economy?

A: There is scarcity of resources across the world. These scarce resources undergoes through a…

Q: What are the types of market failures? And give one specific example and describe it.

A: In economics, market failure is a condition in which products and services are distributed…

Q: What does the “invisible hand” of the marketplace do?

A: Invisible hand is the price which brings the equilibrium between the supply and demand. Invisible…

Q: According to Richard Thaler, what two things give economics its reputation as the most powerful…

A: Richard H. Thaler is a professor of behavioural science and economics at the University of Chicago…