English is becoming the usual language

Assignment Help Business Economics
Reference no: EM139108

Q. Get an answer from tutors to this homework question now:

1.Explain how does the existence of money reduce the costs of making transactions, relative to a society which is based totally on barter? English is becoming the usual language for international transactions, even if the language of neither country is English. How it reduces the costs of transacting?

2. There are two goods in the economy, anchovies (a fish) and bananas (a farm product). Draw the economies production possibilities before and after a natural disaster which lowers the banana harvest but does not affect anchovies.

Reference no: EM139108

Questions Cloud

Purchase of an old office building : Your firm is considering the purchase of an old office building with an estimated remaining service life of 25 years.
How do they differ from economies of scale : Illustrate what is the meaning of economies of scope and explain how do they differ from economies of scale.
Survival of small firms in the industry : illustrate what does this mean for the survival of small firms in the industry.
Official settlements balance : Illustrate what is the capital account balance. Illustrate what is the official settlements balance.
English is becoming the usual language : English is becoming the usual language for international transactions, even if the language of neither country is English.
Mix of fiscal and monetary policies : Assume which the mix of fiscal and monetary policies is changed such which the money supply is increased by 100 while the government.
Draw the market for smiths house : Smith has been trying to sell his house for 6 months although so far there are no purchasers. Draw the market for Smith's house.
Export sales sets in an ongoing recession : Discuss which Explain how drop in the export sales sets in an ongoing recession using accelerator model.
Company acquires all the suppliers in the industry : Assume which one company acquires all the suppliers in the industry and thereby creates a monopoly.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd