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Assume that we have a economy with no government and no capital investment that is closed to the outside world.draw a simple circular flow diagram with just firms:downstream firms that product final goods and services for consumption, and upstream in production only intermediate goods that are used by downstream firms in production. Draw and discuss a circular flow of payments diagram in witch upstream firms and downstream firms are displayed separately.
What is double counting in calculation GDP?Explain why GDP does not equal total sales.
Whats the difference GDP and GNP ?
Describe briefly a market in an important product, resource or service in which demand and supply is not mediated through price mechanism. What alternative mechanism is used to allocate the scarce resource or product in this market [Hint, one such..
How a competitive market arrives at equilibrium and why the price of tomatoes has risen - Discuss the factors that affect the price elasticity of demand as they apply to tomatoes and make a suggestion based on your appraisal as to the likely price..
Cammco Industries operates in a large competitive market. While there are some other comapnies in industry due to the high fixed costs of building plants, rival companies are very aggressive in their pricing strategies.
With the help of an example discuss the characteristics of globalization. What are the factors that contribute to the attractiveness of a country as a market or investment site? What are the implications of cultural differences for international busi..
How does competition affect profits and prices? What causes some firms to enter an industry, and others to leave it?
identify at least five (5) fixed costs and five (5) variable costs OF the NFL (National Football League). If the business or economy slows down, discuss how the industry can control its costs based on the ten (10) costs you identified.
You were recently hired to replace the manager of the Roller Division at a major conveyor manufacturing firm, despite the manager's strong external sales record.
If the government wanted to encourage a monopoly to produce the socially efficient quantity, should it use a per-unit tax or a per-unit subsidy. Explain how this tax or subsidy would achieve the socially efficient level of output. Among the variou..
Environmentalists discuss that trade liberalization harmful for the environment. The decisions of World Trade Organization in particular have been subject of much criticism.
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
Tetrangle Manufacturing has fixed costs of $2,160 per day. The firm manufactures bicycle component upgrade kits. What is the breakeven level of daily output for the firm?
Assume that you became president of small theater company. Your playhouse has the 120 seats and small stage. The actors have national reputations, and demand for tickets is enormous relative to number of seats available
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