Scarcity choice and opportunity cost, Microeconomics

(a) Differentiate between a  command economic system and a laissez-faire.

(b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-enterprise system.

(c) Describe the relationship between scarcity choice and opportunity cost.

(d)  One major objective of various firms is to grow big in size.  Explain why this is so.

Posted Date: 10/21/2013 5:42:00 AM | Location : United States

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