Economics welfare and distribution Study guides, Class notes & Summaries

Hayek - The Use of Knowledge in Society - ANSWER -Complexity of pricing is so complex no person can determine it. -Argued that decision-making must be decentralized to take into account this dispersed knowledge -No one person is as knowledgeable as all of us together. -Markets provide a systemic process that allows us to pool our individual knowledge. -Business people make decisions using price signals. -Price signals allow for sophisticated coordination even when individuals have never me...

Chapter 03 Philosophical Ethics and Business True / False Questions 1. Ethics attempts to answer the question of how we should live, but it does not give reasons to support its answers. True False 2. Ethics offers prescriptions for what a person should do while not seeking to provide justifications for such recommendations. True False 3. Principle-based ethics direct us to consider the moral character of individuals and how various character traits can contribute to, or obstruct, a happy a...

Basic Statistics for Business and Economics, 9e (Lind) Chapter 3 Describing Data: Numerical Measures 1) A value that "attempts to pinpoint the center of a distribution of data" is referred to as a measure of location. Answer: TRUE Explanation: The purpose of a measure of location is to pinpoint the center of a distribution of data. An average is a measure of location that shows the central value of the data. Four measures of location are discussed in the text: the arithmetic mean, the media...

Business Acumen C201 WGU Questions with solutions 2024 Human Interaction & Structure Which two key elements does an effective organization include? It establishes a direct flow of authority Why does a line organization structure function most effectively in a crisis situation? Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:09 / 0:15 Full screen Departmentalization A company might divide itself into smaller groups that be...

Part One: Chapter One: The Nature of Morality Multiple Choice (24) 1. Ethics addresses the question of a. whether God exists b. what we know c. how we should live d. what we are 2. Ethics does not investigate questions of a. duty and obligation b. mind and body c. fairness and unfairness d. good and bad 3. Business ethics is the study of what constitutes good and bad human conduct in a a. business setting b. academic setting c. heavenly setting d. utopian setting 4. Who discussed whe...

Economics - Unit 1 Economics Fundamentals 100% Pass economics 1. the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants 2. Social science that deals with the study of the production, consumption, distribution of goods and services and the transfer of wealth to obtain those goods and services. scarcity a situation in which unlimited wants exceed the limited resources available to fulfill those wants trade-offs giving up one thi...

International Economics: Theory and Policy Sixth Edition Krugman and Obstfeld Test Bank | Complete All Chapters. Introduction 1 Chapter 2 Labor Productivity and Comparative Advantage: The Ricardian Model 14 Chapter 3 Specific Factors and Income Distribution 28 Chapter 4 Resources and Trade: The Heckscher-Ohlin Model 41 Chapter 5 The Standard Trade Model 56 Chapter 6 Economies of Scale, imperfect Competition, and International Trade 70 Chapter 7 International Factor Movements 82 Chapter 8 ...

Real Estate Brokerage SAE - Champion's School of Real Estate 291 Questions with Verified Answers Search Engine Optimization (SEO) - CORRECT ANSWER The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live - CORRECT ANSWER Video streaming through facebook. CoStar Database - CORRECT ANSWER Functions much like a residential MLS, connecting commercial agents with brokerages,...

Part One: Chapter One: The Nature of Morality Multiple Choice (24) 1. Ethics addresses the question of a. whether God exists b. what we know c. how we should live d. what we are 2. Ethics does not investigate questions of a. duty and obligation b. mind and body c. fairness and unfairness d. good and bad 3. Business ethics is the study of what constitutes good and bad human conduct in a a. business setting b. academic setting c. heavenly setting d. utopian setting 4. Who discussed whe...

Chapter 3—Economic Decision Makers MULTIPLE CHOICE 1. Which of the four types of economic decision makers is most important? a. firms, because they produce all goods and services in the economy b. households, because they demand goods and services and supply resources c. government, because it ultimately sets and enforces the "rules of the game" d. government, because it steps in when there is market failure e. the rest of the world, because there are over 150 countries ANS: B PTS: 1...