According to Marx, Market Mechanisms refer only to:a. Production, and profit maximizationb. production and tradec. Consumption, production, distributiond. Social relations7.8. Marx defined commodity as:a. Object that are usually intend for exchange.b. Object that are for sell.c. Object that are for personal use.d. Object that are for keep9.For Marx skilled workers area. Those workers use the machines.b. Those workers work longer time.c. They are multiple of unskilled workers.d. They are stronger

Karl Marx was one of the famous economist who developed his thier on Market mechanism.l

Answered: 7. According to Marx, Market Mechanisms…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. In the short run, an increase in output at low levels of production will most likely cause: A. an increase in the marginal cost due to the rising total fixed cost. B. an increase in the marginal cost due to the law of diminishing returns. C. a decrease in the marginal cost due to economies from greater specialization.
How are the following prices determined and what do theyhave in common?a. admission to a local sporting eventb. tuition at a community collegec. local sales tax rated. printing of programs for a baseball stadiume. lawn mowers
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Economics 6. Karl Marx and Marxian Economics d. The history of capitalism shows a pattern of recurring financial crises followed by recessions or depressions. A severe financial crisis occurred in the United States in 1929. This crisis was followed by the Great Depression, which spread through most of the world and lasted for the next decade. Use the fifth law of capitalist motion to explain why a Marxist living in the 1930s might argue that the Great Depression would prove to be the last crisis of capitalism.
1. How does Adam Smith defend free markets on utilitarian grounds? 2. List the features that characterize a perfect competitive market. 3. What is a perfectly competitive market? Perfectly competitive markets establish capitalist justice and maximize utility in a way that respects buyers' and sellers' negative rights? Explain how and what types of negative rights are respected.
Which of the following statements is correct? a. A payment for the wear and tear that occurs to capital during the production process is part of necessary product. b. A decrease in the payment to laborers will increase necessary product. c. Surplus product equals total product minus necessary product. d. All of the above are correct. e. Both a and b are correct. f. Both a and c are correct. g. Both b and c are correct. h. None of the above is correct
39. Which of the following statements accurately represent ideas proposed by Adam Smith? a) the market system does not require any help from the government to survive. a) government should be weak. b) the government should protect domestic industry against foreign imports. c) the value of money is based on the goods it can buy d) selfishness is a good thing for society and the economy.
Multiple choice. Please just pick the answer. I don't need an explanation.
Which of the following statements is false? Select one: a. Stores purchases are added to inventory and are charged to cost when issued. b. Direct purchases are charged immediately to cost of food. c. Daily food cost report shows food cost, food sales, and food cost percent for any one specific day. d. Stores become inventory in storage and charged to the food cost when received.
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State whether the following statements are true or false a. In a pure ‘planned economy’ the market decides what should be produced. b. A macroeconomic issue tends to inﬂuence all the ﬁrms and households, rather than speciﬁc ﬁrms or households. c. A price elasticity of demand of 0.4 means that a 10% increase in price leads to a 4% reduction in the quantity of a good demanded.
5. а) Suppose the producer finds himself at a position where his MC>AC. Evaluate whether it is an ideal situation for production by giving reasons in favor of your answer. b) Determine when a graduate Computer Engineer would decide to shift to another plant rather than to stay on the original plant. c) Suppose the economy has reached beyond potential output and price of investment falls. Explain the impact on economy.

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