Technological improvements are more likely to occur if the economy is centrally planned. entrepreneurs are compensated for taking risks with higher profits. economic decisions are made by politicians rather than entrepreneurs. companies face little competition in their markets.

Q: Any activity designed to transfer income or wealth to a particular individual or firm at…

A: Rent is the amount received by in exchange for a service provided. It can be relating to a use of a…

Q: You have been selected to talk to a group of people about elasticity. While your audience…

A: The price elasticity of demand shows the responsiveness of change in quantity demand when the price…

Q: Which of the following characteristics DOES NOT belong? choices - Supply of Resources - Franchise of…

A: When people make economic activities, two or more factors are connected with each other to get a…

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A: Since you have posted two independent questions, according to our guidelines only the first question…

Q: Suppose you observe that a particular business has earned positive profits over time and maintained…

A: Barriers to entry are some kind of restrictions imposed on the firms to enter into a particular…

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A: Perfect competition serves as a benchmark for understanding the efficiency of market outcomes. In…

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Q: Which of the following can create monopolies? Economies of scale Scarce resources Agressive…

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A: Capitalism is a system where capital goods are owned by businesses or private individuals. These…

Q: Px b a (A) S=MC Px D Q₁0 Qx gh (B) MR MC Refer to the diagrams. Diagram (A) represents D Q₁

A: Understanding how supply and demand function may help authority attain particular corporate goals.…

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Q: When landlords are prevented by cities from charging market rents, which of the following listed…

A: Price control is done by the government to redistribute the economy's resources in order to…

Q: The perfect competitor can produce as much as it wants or as little as it wants with no effects on…

A: According to the guidelines provided we are allowed to answer only one question in one session.…

Q: Any activity designed to transfer income or wealth to a particular individual or firm at…

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A: The goods that serve as an alternate to other goods are said to be substitute goods. Example: Tea is…

Q: During which stage of normal political development do regulators introduce and enforce final rules…

A: Answer Implementation

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A:

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Q: Which of the following is NOT a characteristic of perfect competition? O the product is homogeneous…

A: Perfect competition is a type of market structure in which there are large number of buyers and…

Q: Perfect competition is a hypothetical market form associated with neo- classical economic theory. A…

A: In the Neoclassical model, perfect competition leads to a perfect market structure, with the best…

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A: Answer 1) Companies are Price takers where the market consists of a large number of buyers and…

Q: Among the values John D. Rockefeller emphasized in managing the company he founded was/were (check…

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Q: If a firm chooses to produce output in the short run, how much output will it produce. Explain why…

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Q: Which of the following are examples of how patents are not always a perfect way to encourage…

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Q: Differentiate between the following terms. Nationalisation and privatisation.

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A: Information is very relevant things for the economy to understand what are things are happening…

Q: ne correct answer below: upational licenses represent a barrier to entry to certain industries.…

A: Occupational  License is a grant to rehearse an occupation.