Answer: Option (C) is correct.
Explanation:
Positive view of the economy theory is largely based on the facts and incentives and it is engaged with most of the assumptions and check these assumptions reality to prove the facts.
On the other hand, normative view of economic theory is largely based on the statements, it is subjective and engaged with the value of the incentive or fact.
Answer:
<span> 1) If a producer can provide cable service more cheaply than another producer, it is an</span> absolute advantage.<span>
2) If a producer can produce salads while giving up fewer opportunities to make sandwiches than another producer, it is a</span> comparative advantage.
3) If a producer can create more car parts than another producer does, using the same number of resources, the price per unit is cheaper and it is an absolute advantage.
Absolute advantage<span> is the ability of a person, a country, company or region to produce a good or service at a cheaper price per unit than another entity producing the same good or service.</span>
Comparative advantage<span> is the ability of a person, a country, company or region to produce a specific good or service more efficiently (lower opportunity cost) than another entity to produce the same good or service.</span>
Answer:
Option (a) is correct.
Explanation:
According to the law of diminishing marginal productivity, if there is an increase in the input in the production of a certain commodity then as a result there is an increase in the output of that commodity, initially but further increase in the input will have no impact on the output of the commodity or will have a negative impact.
In our case, when farmer hires 3rd worker, the output increases by 1,400(4,400-3,000) bushels. According to the law of diminishing marginal productivity, if he hires 4 workers then there is an increase in the output but less than the 1,400 bushels.
This condition will be satisfied in the option (a), where output increases by 1,200 bushels.
Answer:
.progressive or regressive.
Explanation:
If this is the complete question,
The emphasis of a marketing strategy for a continuous innovation concentrates on
A. Advertising to generate awareness
B. Obtaining widespread distribution
C. Advertising product benefits and use
D. Setting the price low.
The answer is. The emphasis of a marketing strategy for a continuous innovation concentration is advertising to generate awareness of the product for the consumer. According to business dictionary, marketing strategy is defined as "an organization's strategy that combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business. The marketing strategy is the foundation of a marketing plan".
