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Create an informal hand-written spreadsheet of your own household economy. Identify all the factors of production that your household owns, and count all the person-hours available and any capital.
Discuss how these resources are allocated and by what methods, such as market price, command, majority rule, sharing equally, and first-come- first serve. Also, discuss whether your household's resources are allocated efficiently.
Are they allocated fairly? Think about the two ideas of fairness and how they apply in your household.
Workers must travel from Smallville to the Steel Mine and return every day
choose and research an industry where there has been a pattern of change in a particular market model monopoly
suppose the local market for cigarettes is made up of the following peopletype a qa 20 - p type b qb 30 - 2p type c qc
How much aluminum oxide and how much carbon are needed to prepare 644 g of aluminum by the balanced chemical reaction (below) if the reaction proceeds to 78.8% yield?
Compute the elasticities for each independent variable and Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results..
1. provide an example of each of the factors of production and how the government may alter the factor to expand the
questiona consider the following flows in thousand of people between the various labour market states in a particular
briefly contrast the neo-classical theory of growth with cumulative causation theory by describing what each would
south korea is economically advanced relative to north korea by all the standard measures of economic well-being e.g.
1. b. in at least 3 detailed paragraphs answer the following three questions use examples to illustrate your response
the cross price elasticity of demand of soft drinks for popcorn is -2.0; and the income elasticity of demand for soft drinks is 1.2. Use this information to answer the following question.
Is this microeconomic or macroeconomic? "More workers are being hired by the nation's businesses." Comment on the statement from an opportunity cost perspective: "The main cost of going to college is the $15,000 per year in tuition." Suppose that a ..
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