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Snezhnost [94]
2 years ago
14

explain the law of increasing opportunity costs using the example of economic growth and a production possibilities curve.

Business
1 answer:
Ivahew [28]2 years ago
3 0

The law of increasing opportunity cost tells us that, as the economy moves along the production possibilities curve in the direction of more of one good, its opportunity cost will increase.

<h3>What is economy ?</h3>

An economy is a region where products and services are produced, distributed, traded, and consumed. It is generally understood to be a social domain that places an emphasis on the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.

One's culture, values, education, technological advancement, history, social organization, political structure, legal system, and natural resources are all major determinants of an economy's processes. These elements determine the parameters and conditions under which an economy operates in addition to providing background and content. In other words, the economic realm is a social domain made up of connected human behaviors and exchanges that cannot exist independently.

Individuals, companies, organizations, or governments all qualify as economic actors.

To learn more about economy from the given link:

brainly.com/question/21253580

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According to the expectancy theory, the employee is likely to see the "effort-performance" relationship as weak and demotivating.

<h3>What is expectancy theory?</h3>

According to expectancy theory, people are more motivated to work hard if they believe their efforts will be noticed and rewarded.

The importance of expectancy theory are-

  • When applied correctly, expectation theory can aid managers in understanding why people choose between various behavioural options.
  • Managers should implement mechanisms that closely link rewards to performance to improve the relationship between effort and results.
  • It is based on an individual's self-interest, who desires to maximize enjoyment and reduce dissatisfaction.
  • This philosophy places a strong emphasis on perception and expectations, saying that reality is irrelevant. It places a focus on benefits or payoffs.

According to the Expectancy Value Theory (Vroom, 1964), two things affect why a person chooses to engage in a particular activity or action:

  • Expectancy is the likelihood that a desired (instrumental) outcome will be attained as a result of the behaviour or activity.
  • Value is the degree to which the individual appreciates the intended outcome.

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4 0
1 year ago
Monopoly output is _____ the corresponding output for perfectly competitive industries. Please choose the correct answer from th
photoshop1234 [79]

Monopoly output is _the same as (B) ______ the corresponding output for perfectly competitive industries

<h3>Similarity between a monopolistic market and perfectly competitive market </h3>

A monopolistic market is similar to a perfectly competitive market because both markets determine the prices and supply of goods and services in the market. although a perfectly competitive market consists of several firms no particular firm controls the market which makes the group of firms as act as a monopoly.

Hence the output of a monopoly is similar to the output of a perfectly competitive industries.

Learn more about Monopolistic markets :  brainly.com/question/24877850

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2 years ago
A generic brand of pre-packaged foods would best be marketed to which target market?
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The best answer to your question would be College students on a budgets

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