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: Which of the following is true of profits and losses? Profits direct entrepreneurs toward production…

A: Profit:   The profit is the excess of the revenues over expenditure at the given period of time…

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 statements best describes compliance risk?         Compliance…

A: Compliance risk is a type of risk that arises from potential legal penalties, financial forfeiture…

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…

Q: Which of the following choices is not a benefit to owning a franchise?…

A: A franchise is a business model where one business owner (the 'franchisor') sells the rights to…

Q: Natural monopolies result from     patents and copyrights.        pricing strategies.…

A: Monopolies are the market form in which there is single seller selling unique product at high…

Q: Generate real data for demand of a product comparing two seasons, Illustrate the concept of shift in…

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…

Q: The DeBeers Company of South Africa was able to block competition through  economies of scale.…

A: Monopoly consists of a single seller who produces a unique good that has no close substitutes with…

Q: true or false The rational and profit maximizing firm will choose to operate in Stage 1 or Stage 2…

A: Total product is defined as the total amount of output produced by employing given amount of input.…

Q: Two countries-A and B. Downward-sloping market demand in both. Firm Marginal Cost is upward sloping.…

A: In the mentioned question we have been given that the market price of A is greater than B. Now it is…

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

A: There are situations where a particular firm controls all the operations of the market. They control…

Q: Capitalism encourages innovation and growth in the market, it is a system that stimulates innovation…

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.…

Q: Another solution for antibiotic resistanceis the development of new drugs that defeat resistant…

A: With market concentration, monopolistic power, and the need for antimicrobial resistance solutions…

Q: The profit maximizing firms in a perfectly competitive industry with free entry have average total…

A: The pure competitive market defines a market where a massive number of buyers and business companies…

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: Total Fixed Costs + Total Variable Costs = W %3D Multiple Choice The Supply Curve. The Marginal…

A: Total fixed cost refers to the cost that is independent of the output level produced. Total variable…

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: Amazon company Describe anything that differentiates a product of your company, anything that…

A: Amazon is an online platform where people can shop for everything from furniture to mobile phones…

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

A: Perfect competition refers to the market structure in which there are many buyers, and sellers, and…

Q: Robin owns a horse stable and gives riding lessons for children at Pony Camp. His business operates…

A: The structure of a market where there are a large number of buyers and sellers selling homogenous…

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

A: Answer Implementation

Q: Which of the following must be true in the long run? Production increases when prices increase. An…

A: In the long run, the price of the goods and the wages are flexible in the market, that is why the…

Q: The part below (in bold) describes a firm that was an early mover in its market. In light of the…

A: As an early mover is likely to be the basis of a sustainable competitive advantage because the…

Q: The key difference between supply in the short run and supply in the long run is the assumption that…

A: The distinction between supply in the short run and supply in the long run is a fundamental concept…

Q: Name companies in Pakistan which works with clients on Niche (Niche Market) and micro level (Micro…

A: Firms which work with smaller budgets and are focussed to specific area of business is termed as…

Q: Should the company also reduce price in order to maintain market share, or should the company…

A: Market share is the percentage of an industry’s total sales that is earned by a specific company…

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

A: In a society, public policy is manipulated by many people to increase their profits. They do so by…

Q: The fact that perfectly competitive firms have creates a level of output that is allocatively…

A: There are various forms of market structure such as perfect competition, monopoly, monopolistic,…

Q: Give typing answer with explanation and conclusion When a pharmaceutical company discovers a new…

A: An invention can only be made, used, or sold by the owner of a patent for a set amount of time,…

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…

Q: Perfectly competitive industries are characterized by:     few sellers and many buyers.…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: The transition from ‘brick and mortar’ to the digital economy raises a number of questions: Does the…

A: Creating a fundamental understanding of the new economic coherence that has resulted from the advent…

Q: As organizations move through the stages of the organizational life cycle from birth to maturity,…

A: Answer - Need to find - Correct Option - Given in the question - As organizations move through the…

Q: Companies are price takers under: Oligopoly Monopoly Monopolistic competition Perfect completion The…

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…

A: The first part of the question is asking about the values that John D. Rockefeller emphasized when…

Q: The lean start-up approach suggests that entrepreneurs refine the products or services offered by…

A: The objective of the question is to understand whether the lean start-up approach involves refining…

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

A: Nationalisation is usually defined because the act of presidency taking property previously owned by…

Q: A perfect competitor is considered as which of the following?   Price taker Price maker Dominant…

A: The market structure which is identified by a complete absence of rivalry among the individual firms…