Answer:
The price will decrease and the quantity of the product sold will increase.
Explanation:
The price quoted would be lower because the social costs are not part of the cost of the product. This would increase the demand of the product because financially it is more beneficial and the price demand relation says that when the price of the good decreases the demand of the product increases and vice versa. So this means that the company will earn more but the society will have to bear the cost of the negative impacts.
Answer:
The correct answer is economic growth.
Explanation:
A production possibility curve or frontier shows the different combinations or bundles of two goods that can be produced using limited resources. The curve is concave because of increasing opportunity cost.
An outward shift in the production possibility curve shows an increase in the level of production. This can happen because of two reasons
,
- Increase in the quantity of resources available
, and
- Improvement in technology
Both of these factors will help in increasing the level of production. In other words, we can say that the outward shift in the production possibility curve shows economic growth.
Answer:
b. society faces a tradeoff between unemployment and inflation, but only in the short run
Explanation:
Mainstream economics follows rational choice theory, which assumes that individuals make decisions that will maximize their own utility, and uses statistics and mathematical models to demonstrate theories and evaluate various economic developments.
Answer:
The correct answer is letter "C": You are usually not in charge.
Explanation:
Wage-earners are the people who live mainly thanks to the salary they receive. Under this category fall low-range workers whose base income is their source of income. Hardly ever low-range employees are assigned major tasks since they are subordinates, so the success or failure of a project does not rely directly on them since they are not the ones in charge.
