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When the output is a service rather than a good, it sometimes is difficult to quantify this service. Furthermore, the quality of a service is often as important (if not more important) than the quantity. And in many cases, labor time spent with a customer is directly related to this quality of service. If this is the case, then the quantity and quality of a person’s efforts may be in conflict with each other.
Explain how competing solutions to the problem. Evaluate which one is preferable. Address the responsibilities of each level of government- federal. state and local.
Which of the follow is a characteristic of a command system? Every country can be categorized as using either the command system or market system to coordinate its economic ac
You are the manager of a small U. S. firm that sells nails in a competitive U. S. market (the nails you sell are a standardized commodity; stores view your nails as identical
Describe fully with many paragraphs in an essay style, the economic arguments for and against a free market approach to allocating scarce resources. Provide a unique real worl
BioElectroMechanical Systems (BEMS) is a startup company with high potential and little available cash. They obtain $500,000 for necessary technology from a venture capitalist
In which of the following areas is the principle of non discrimination being central to GATT evident? Normal trade relations, national treatment, elimination of quotas and qua
A tax authority must decide on a social insurance scheme. It knows that half the population will unemployed this year with only $400 in income from odd jobs. The other half wi
An inexperienced researcher wants to examine the average standard of living in two countries. In order to do so he compares the GDP's in those two countries. What are two reas
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