Under what social and economic conditions are markets likely to fail? When is there likely to...
Under what social and economic conditions are markets likely to fail? When is there likely to be government failure? Is macroeconomic inefficiency (for example, a high level of unemployment and underemployment) due to market failure or government failure? Please explain thoroughly in at least one paragraph.
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Under what social and economic conditions are markets likely to
fail? When is there likely to...
Free market capitalism is an economic system that is characterized by private property, competitive markets and...
Free market capitalism is an economic system that is characterized by private property, competitive markets and limited government intervention. This system is in essence a form of trade that is governed by supply and demand and maintained through healthy competition. There are both pros and cons when it comes to a free market. When demand is high and is adequately supplied, the market is considered to be strong. Wealth is generated in this case because people have money to spend...
7. How can cost benefit analysis help explain why people are more likely to overeat at...
7. How can cost benefit analysis help explain why people are more likely to overeat at all you can eat buffets than at restaurants where we pay for extra portions? a. At all-you-can-eat buffets, the food always tastes better, so people eat more. b. The marginal cost of additional food is lower at all-you-can-eat buffets since they don't charge for a second helping of food. c. Marginal benefit is always less than marginal cost for food at all-you-can-eat buffet d....
If the federal government was required to balance its budget, when would government spending most likely...
If the federal government was required to balance its budget, when would government spending most likely decrease? Select one: a. When employment was rising rapidly for an extended period of time b. When unemployment was declining for an extended period of time c. When the economy was experiencing a strong expansion due to high business confidence d. When the economy was experiencing a demand pulled inflation e. A balance budget amendments ensures that government spending never decrease Suppose that the...
Media Analysis Question In today's economy, many sectors telecoms, cable TV, digital branches from social media...
Media Analysis Question In today's economy, many sectors telecoms, cable TV, digital branches from social media to internet search, health insurance, pharmaceuticals, agro-business, and many more cannot be understood through the lens of competition. In these sectors, what competition exists is oligopolistic, not the "pure" competition depicted in textbooks. A few sectors can be defined as "price taking": firms are so small that they have no effect on market price. Agriculture is the clearest example, but government intervention in the...
Question ci Global stock markets slump due to worry on global economic depression under prevalence of...
Question ci Global stock markets slump due to worry on global economic depression under prevalence of COVID-19. Therefore, fund companies face tremendous redemption demand from their investors. To order to meet the redemption demand, fund companies have to sell large amount of risky assets (e.g. corporate and government bonds) and commodities (e.g. gold). It leads to further drop on financial assets' prices. Meanwhile, investors demand for the U.S. dollars as a “safe heaven” in the volatile financial market. U.S. Dollar...
Paper We have learned about the theories and characteristics behind the social and market justice systems...
Paper We have learned about the theories and characteristics behind the social and market justice systems as they relate to health care. Social justice theory assumes that the government is more responsible and efficient in allocating health resources equitably. All, as a basic right, should have equal access to medical care and ability to pay is inconsequential. Health care is a social good rather than an economic good like in the market justice system. Market justice theory assumes that markets...
this is the discussion question this is the answer given by one of my class mate Social structure, culture and social i...
this is the discussion question
this is the answer given by one of my class mate
Social structure, culture and social interaction all play a very
important role in creating the social fabric that we live in. An
example would be someone born into a wealthy family that benefits
from their family's socioeconomic status. This child is more likely
to have the advantage of attending a highly ranked high school and
being exposed to a family emphasis on the importance...
4. Which of the following is NOT a true statement about market conditions for firms under...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
QUESTION 10 The regulatory approach for global waming that is the most efficient is by: price....
QUESTION 10 The regulatory approach for global waming that is the most efficient is by: price. subsidies. quantity taxing profits. QUESTION 11 One implication of the Coase Theorem (per class discussion) market failure is the primary cause of most externalities. "everyone is guilty and that at least some of the "blame for any of externality falls on all of the parties. a Pigouvian tax is usually the best approach to force internalization of externalities. the party that causes the externality...
Economics is a social science concerned with: The best use of scarce resources to achieve the...
Economics is a social science concerned with: The best use of scarce resources to achieve the maximum satisfaction of economic wants. Increasing the level of productive resources so there is a minimum level of income. Increasing the level of productive resources so there is maximum output in society. The best use of scarce resources paid for at the minimum level of cost to consumers and businesses. Answer: A person should consume more of something when its marginal: benefit exceeds...
7. How can cost benefit analysis help explain why people are more likely to overeat at all you can eat buffets than at restaurants where we pay for extra portions? a. At all-you-can-eat buffets, the food always tastes better, so people eat more. b. The marginal cost of additional food is lower at all-you-can-eat buffets since they don't charge for a second helping of food. c. Marginal benefit is always less than marginal cost for food at all-you-can-eat buffet d....
Media Analysis Question In today's economy, many sectors telecoms, cable TV, digital branches from social media to internet search, health insurance, pharmaceuticals, agro-business, and many more cannot be understood through the lens of competition. In these sectors, what competition exists is oligopolistic, not the "pure" competition depicted in textbooks. A few sectors can be defined as "price taking": firms are so small that they have no effect on market price. Agriculture is the clearest example, but government intervention in the...
Question ci Global stock markets slump due to worry on global economic depression under prevalence of COVID-19. Therefore, fund companies face tremendous redemption demand from their investors. To order to meet the redemption demand, fund companies have to sell large amount of risky assets (e.g. corporate and government bonds) and commodities (e.g. gold). It leads to further drop on financial assets' prices. Meanwhile, investors demand for the U.S. dollars as a “safe heaven” in the volatile financial market. U.S. Dollar...
this is the discussion question
this is the answer given by one of my class mate
Social structure, culture and social interaction all play a very
important role in creating the social fabric that we live in. An
example would be someone born into a wealthy family that benefits
from their family's socioeconomic status. This child is more likely
to have the advantage of attending a highly ranked high school and
being exposed to a family emphasis on the importance...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
QUESTION 10 The regulatory approach for global waming that is the most efficient is by: price. subsidies. quantity taxing profits. QUESTION 11 One implication of the Coase Theorem (per class discussion) market failure is the primary cause of most externalities. "everyone is guilty and that at least some of the "blame for any of externality falls on all of the parties. a Pigouvian tax is usually the best approach to force internalization of externalities. the party that causes the externality...
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