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What is economic transition?
Economic transition means the process of transitioning of countries from different economic systems. There are basicly 3 main types of economic systems. They are free market, command planned, and mixed economy. (Different books and academics may have different terms for these. What is important is the understanding of the differences). For example, economic transition refers to one country evolving from one economic system to another. It can be said that Country A is moving from command planned to free market. What is interesting about Economic Transitions are the issues faced by the country. There can be many issues like corruption, poverty, social unrest and so on.
Discuss whether economic efficiency as described in text books is likely to be able to be achieved in practice?
Economic efficiency is said to be achieved when both the conditions of productive and allocative efficiency are fulfilled. Productive efficiency arises when productin is carried out at lowest cost, i.e, at minimum average cost. On the other hand allocative efficiency arises when resources are allocated to teh production of those goods and services which consumers demand the most. This efficiency arises when price is equal to teh marginal cost of the good or service. Economic efficiency exists in the idealistic perfect market model of perfect competition. However this market structure barely exists. Imperfections exist in all markets. Moreover even if a market is eficient there may be a misallocation of resources which does not give rise to wellbeing of the economy. Hence economic efficiency does not necessarily lead to welfare economics.
What is profit motive?
Profit is the difference between cost and proceeds. If the proceeds are more than the cost then one is said to be in profit. Having motivation to achieve proceeds more than the cost is known as profit motive.
When a firm has little ability to influence market prices it is said to be in what kind of a market?
Imperfect monopoly
What are the aims of firms?
1) Profit maximisation.The standard assumption made by economist is that firm will seek to maximise their profit that is maximise the gap between the firm's total revenue and total cost (including normal profit.) A firm making the minimum level of normal profit is said to be producing the break even output. Firms will want to make abnormal profit as a reward for managing the resources and taking business risks.2) Sales revenue maximisation A firm may be prepared to accept a lower price and produce above the profit maximising output in order to increase its market share in a growing market. This is a penetration pricing policy.A firm choose to maximise its sales revenue would raise output beyond MC=MR until MR had fallen to zero. Extra sales after this would contribute nothing to total revenue, therefore it is at maximum.
What is role of economic man in classical economics?
The concept of the economic man in classical economics refers to an individual who makes rational decisions based on self-interest and the pursuit of maximum utility. This assumption helps to analyze how individuals make decisions in the marketplace and how these decisions ultimately shape economic outcomes. The economic man is a key element in classical economic theories of supply and demand, competition, and market efficiency.
Investors are said to be more market oriented than product oriented .?
well i think being an investor a person want to earn more and more after investment so if he invest on a project or product which donot hold market share or which has no market than obviously all the investment donot get the maximum profit and the profit is first piority of investor rahther than product quality or product image because if there is no demand of that product in the market and no one need that product than it will be big lose for investor thats why investors are more market oriented than product oriented
What is economic transition?
Economic transition means the process of transitioning of countries from different economic systems. There are basicly 3 main types of economic systems. They are free market, command planned, and mixed economy. (Different books and academics may have different terms for these. What is important is the understanding of the differences). For example, economic transition refers to one country evolving from one economic system to another. It can be said that Country A is moving from command planned to free market. What is interesting about Economic Transitions are the issues faced by the country. There can be many issues like corruption, poverty, social unrest and so on.
What is the economic system of France?
The modern day French Republic is a free market economy. That being said France does have state owned enterprises which include its postal agency and SNCF Rail.
What is the Frances's economic system?
The modern day French Republic is a free market economy. That being said France does have state owned enterprises which include its postal agency and SNCF Rail.
What particular challenges do services have when being marketed internationally?
There are many challenges. Some of these will include political environments, cultural environments, economic environments, etc. With that said, it makes sense to grow minimally into each new market and maintain positive growth in this market before going into another new market.
Discuss whether economic efficiency as described in text books is likely to be able to be achieved in practice?
Economic efficiency is said to be achieved when both the conditions of productive and allocative efficiency are fulfilled. Productive efficiency arises when productin is carried out at lowest cost, i.e, at minimum average cost. On the other hand allocative efficiency arises when resources are allocated to teh production of those goods and services which consumers demand the most. This efficiency arises when price is equal to teh marginal cost of the good or service. Economic efficiency exists in the idealistic perfect market model of perfect competition. However this market structure barely exists. Imperfections exist in all markets. Moreover even if a market is eficient there may be a misallocation of resources which does not give rise to wellbeing of the economy. Hence economic efficiency does not necessarily lead to welfare economics.
You said Aliens do not exist?
No i didn't
What is profit motive?
Profit is the difference between cost and proceeds. If the proceeds are more than the cost then one is said to be in profit. Having motivation to achieve proceeds more than the cost is known as profit motive.
Is china gold 926 real?
However, it now appears that a major part of China's subsequent economic boom has been predicated on tens of billions in hard assets -- such as gold -- which simply do not exist, the report said.
When a business has no competitors and controls the market for a product or service it is said to have an?
have a monopoly of the market
Was roxas never supposed to exist?
well namine said he wasn't soppost to exist so no.
