Explain the benefits of a market economy

Assignment Help Business Economics
Reference no: EM131173818

Explain the benefits of a market economy in answering the 3 basic economic questions

What is to be produced?

How are the goods to be produced?

For whom are the goods produced?

Reference no: EM131173818

Questions Cloud

What is the opportunity cost of beef in each country : Does either country have an absolute advantage in the production of wheat or beef? Explain. What is the opportunity cost of wheat in each country? What is the opportunity cost of beef in each country?
Use the aggregate demandaggregate supply framework : In 18 months from October 2007 to March 2009, Dow Jones Industrial Average declined by more than 50 percent. Use the aggregate demandaggregate supply framework to discuss and show graphically how the “2008 stock market crash” might have affected infl..
Assume the short-run aggregate supply curve : Assume the short-run aggregate supply curve can be expressed algebraically as: Y = 4,500 + 3,000π and the dynamic aggregate demand curve can be written as: Y = 5,000 – 1,000π. Find the numerical value for the short-run inflation rate? Find the numeri..
The us stock market is efficient : "The US stock market is efficient." In preparing to contribute to this discussion, you should first think about what is it that the market is supposed to do efficiently. Having identified what it means to say that the market is efficient, consider th..
Explain the benefits of a market economy : Explain the benefits of a market economy. What is to be produced? How are the goods to be produced? For whom are the goods produced?
Explains how to set up a festival booth : Write an instructional guide of 1–2 pages that explains how to set up a festival booth. Be sure to offer a clear heading that summarizes the task, use numbered lists if and when necessary, and do not mix instructions with conceptual information. Your..
Interest rate on a federally insured deposit declines : Assume that the interest rate on a federally insured deposit declines from 15 percent per annum to 10 percent. If an individual holding a U.S. Treasury bill worth $2,500 plans to sell it after this drop in interest rate, he would realize (approximate..
Plot the consumption function : Plot the consumption function C = 150 + 0.7Y. Assuming no government sector, if planned investment spending is 250 billion dollars, what is the equilibrium level of aggregate output? Explain in full sentences, and show this equilibrium level of outpu..
About productivity and study the graphic figures : We can read about productivity and study the graphic figures that are in textbook and be able to understand the relationships of variable cost, fixed costs and average total cost and find the most optimal quantity of production. If a firm buys roboti..

Reviews

Write a Review

Business Economics Questions & Answers

  Produces units of commodity

A company produces x units of commodity A and y units of commodity B each hour. The company can sell all of its units when commodity A sells for p=90−5x dollars per unit and commodity B sells for q=70−4y dollars per unit. The cost (in dollars) of pro..

  Half wealthy as the government statistics indicate

Briefly explain whether you agree with the following statement: I recently read that more than half of the money issued by the government is actually held by people in foreign countries. If this is true, the United States is less than half wealthy as..

  Outlined in final project guidelines and rubric document

For this milestone, submit a draft of your analysis as outlined in the Final Project Guidelines and Rubric document. Create a draft of the graphs, summaries, and tables developed in the Analysis critical element. You will be evaluated on your correct..

  What is the law of the comparative advantage

Is a strong dollar always good? Is a weak dollar always bad? Who are the winners and losers of an appreciating or depreciating dollar? What are foreign exchange rates all about, and how do they work? What is the Law of the Comparative Advantage? How ..

  Fiscal policy criteria for joining a monetary union

Countries seeking to adopt the euro as their currency must meet certain criteria, including the requirements to keep their government budget deficit equal to 3% or less of GDP, and to hold government indebtedness to less than 60% of GDP. Discuss why ..

  Face value bond with an annual coupon

A $1,000 face value bond, with an annual coupon of $32, one year to maturity and a purchase price of $975 has:

  Determine the elasticity of industrys labor demand curve

What factors determine the elasticity of industry’s labor demand curve? Based on these factors, discuss labor demand for factory line workers versus labor demand for nurses, which one would be more elastic?

  What is the probability that the number of customers

On a given day in October, the number of customers that visit Hannah’s Haunted House is normally distributed with a mean of 85 and a variance of 400. What is the probability that the number of customers on one day is between 75 and 100?

  What kind of data for comparison

A trend analysis for a farm business could be performed using what kind of data for comparison?

  Discuss the potential of exports for small companies

This case explores the potential of exporting for small businesses. Some 97 percent of all U.S. exporters in 2012 were classified as small businesses, yet together, these companies were responsible for some $460 billion in foreign sales. Discuss the ..

  Q1 a plant has a capacity of 4100 hydraulic pumps per month

q1. a plant has a capacity of 4100 hydraulic pumps per month. the fixed cost is 504000 per month. the variable cost is

  Calculate the elasticity of demand for your chosen company

Calculate the elasticity of demand for your chosen company's automobiles (or choose a specific make / model). Interpret what the demand tells your chosen company's management team.

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