The term? "market" in economics refers to

A(n) __________ is the set of institutions that transfer the ownership of and move goods from the point of production to the poi

My name is Ann [436]

Answer:

The correct answer is: Marketing Channel.

Explanation:

Marketing channels can be defined as the set of institutions and people that are required to transfer ownership of goods from the point of production to the point of consumption.

It is also known as a distribution channel and consists of all the institutions and marketing activities that are involved in the marketing process.

5 0

3 years ago

In three to four sentences, explain the effect of competition on the price of goods and services and whether or not this is a go

Ksivusya [100]

<span>Competition and the price of goods and services have a direct relationship. If there is more competition in a specific market then prices tend to lower; this is a good thing for consumers. For example; two companies are competing to sell more cell phones than their rival. If one company figures out a way to lower production costs and sales, the other will soon follow to keep up with the competition. </span>

5 0

3 years ago

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Suppose there are three stores in a shopping center that would benefit from security lights in the parking lot according to the

Kryger [21]

Answer:

Public good is a good which is non-rival and non-exclude able in nature. For example water, sun-rays, lighthouses, streetlights etc

It is non-rival in the sense that the consumption of the good by one does not decrease the consumption of other people in the society.

It is non-exclude, which means that nobody can be excluded from the use of the good or the service It is difficult to exclude them

Externality occurs when the action of an individual or a firm affects other individuals or firms in an economy in either a positive or a negative way.

The relevant benefits or costs (compensation of externality) are not reflected in the market prices

Externalities arise in case of public goods because of the problem of .free-rider. This means that the benefits of the good are reaped by some other party without paying for the good.

In this case, private firms fail to provide the good because people do not reveal their true preferences. Thus,market failure occurs in case of production of public goods because of the presence of positive or negative externalities

The government steps up to produce this good when market fails to produce it by

charging each persona price equivalent to their marginal willingness to pay for the good.

Marginal social cost (MSC) of a good is the minimum amount of money required to compensate the producers to make them produces an extra unit of that good and make it available for consumers.

It is the change in the total social cost of production due to the production of an additional unit of output

Marginal social benefit (MSB) of a good is the maximum amount of money that people need to give up to obtain an additional unit of the good

It is the extra benefit derived from the availability of an additional unit of the good It includes private benefits as wen as external benefits such as benefits of a positive externality.

Suppose few shops in the shopping center benefit from the security lights in the parking lot La this case, the benefits of the positive externality are reflected in the prices.

The demand functions, reflecting marginal willingness to pay of each store, are given as follows

$P_{A} = 50 - Q$

$P_{B} = 45 - 2Q$

$P_{C} = 30 - 2Q$

The market quantity is fixed in case of a public good. However, the price of the good needs to be calculated The price to be charged for a public good is the sum of marginal willingness to pay of each store at each quantity level (Q)

That is,

$P = P_{A} + P_{B} + P_{C}$

P = (50 - Q) + (45 - 2Q) + (30 - 2Q)

P = (50 + 45 + 30) - (Q + 2Q + 2Q)

P = 125 - 5Q

This is the marginal social benefit (demand) function for the public good

A firm equates its MSB with Sac to maximize the difference between total social benefit and total social cost The intersection of MSB and MSC curves gives the market equilibrium price and quantity.

MSC is $70 per security light.

MSB = MSC

125 - 5Q = 70

125 - 70 = 5Q

55/5 = Q

Q = 11

Thus, the socially efficient output quantity of lights is 11 security lights

6 0

4 years ago

A(n) _________________ business changes basic inputs into products that are sold to customers. a.manufacturing b.enterprise c.re

N76 [4]

A manufacturing business changes the basic inputs into products that are sold to the customers.

The manufacturing business is in charge of manufacturing the goods for the entire country. It takes input from the economy as raw materials and processes or manufactures it and then gives the output back to the company. A very simple example of this is steel rods. The manufacturing company changes the basic inputs of steel into products which are steel rods.

An enterprise is a business or a company that runs its own business. Retail is a type of business that buys goods from wholesalers and sells them to customers. Service is the work that is done by professionals like doctors. None of these actually make their own goods to sell back to the customers. They only sell other goods or services without manufacturing anything new.

Learn more about manufacturing business here:

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4 0

2 years ago

ack Hammer invests in a stock that will pay dividends of $3.06 at the end of the first year; $3.42 at the end of the second year

aleksley [76]

Answer:

$46.82

Explanation:

Present value is the sum of discounted cash flows

present value can be calculated using a financial calculator

Cash flow in year 1 = $3.06

Cash flow in year 2 = $3.42

Cash flow in year 3 = $3.78 + $56 = $59.78

I = 13%

Present value = $46.82

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

8 0

3 years ago