I want to say that the answer is <span>copy development</span>
Answer:
24 years
Explanation:
In a situation where a country GDP which is fully known as GROSS DOMESTIC PRODUCT was been expected to increase or grow at a rate of 3% per year or per annual which means that it will actually takes up to 24 years for a country economy living standard to double .
Therefore the numbers of years it would take for a country living standards to double will be 23 years.
Answer:
True
Explanation:
Banks use a type of check used to pay bills or make payments for which the money is guaranteed
Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run, we can expect "some firms to exit causing the market price of corn to rise.".
<h3>What is perfectly competitive market?</h3>
According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
There are five characteristics that have to exist in order for a market to be considered perfectly competitive. The characteristics are -
- homogenous items,
- no entry or exit obstacles,
- price taker sellers,
- transparent products, and
- no seller has any control over market prices.
The three key components of perfect competition are as follows:
- There are a lot of buyers and sellers in the market.
- These buyers and sellers are in competition with one another.
- The good being offered or purchased is uniform.
- Companies are free to enter or leave the market.
To know more about; Why is perfect competition the best form of market structure?, here
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