ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Describe the business environment in the city or country that you live in. You should explain whether the business
environment encourages or inhibits business activity. Justify your view with the use of examples. In addition, you
should examine four different industries and describe the type of market structure that exists in each of these
industries. You should explain whether there is much or little competition and why? Based on your answers above,
discuss the effects that the above business environment has on consumers and society in general.
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- Consider the circular flow model: suppose that businesses buy a total of $220 billion of the four resources (land, labor, capital and entrepreneurial ability) from households. If households receive $120 billion in wages, $24 billion in rent, and $49 billion in interest, how much are households paid for providing entrepreneurial abiltity? A. $360 billion B. $60 billion C. 27 billion D. $100 billionarrow_forwardPlease explain the answer:arrow_forwardAnswer correctly and fast please Which of the following is one of the three factors contributing to high levels of entrepreneurship in the United States? a. Advances in technology b. Social pressure toward traditional employment c. Rapid job growth at large companies d. Limited funding e. Stagnant technologyarrow_forward
- a. Suppose that businesses buy a total of $150 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $80 billion in wages, $20 billion in rent, and $30 billion in interest, how much are households paid for providing entrepreneurial ability? %24 billion b. If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market? %24 billionarrow_forwardWhich phrase best replaces X? Lower prices and increased quality of items Higher profits and decreased costs of production Higher supply and increased value of corporations Lower demand and decreased scarcity of resourcesarrow_forward“For most of the last 15 years, capital has been cheap. Since 2009, the after-tax cost of borrowing for some large companies has been below the rate of inflation, making their debt in real terms cost-free. All that changed in March 2022, when the world’s central banks began raising rates to curb rising inflation.” The paragraph above is an example of: a. factors of production b. opportunity cost c. market failure d. externalitiesarrow_forward
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