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laila [671]
4 years ago
8

Specialization is important in an economy because it leads to which important economic concept?

Business
1 answer:
rewona [7]4 years ago
7 0

It leads to voluntary exchange.

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For each of the following pairs of firms, indicate which firm would be more likely to engage in advertising. Pairs of Firms More
8090 [49]

Answer:

a family-owned restaurant

a manufacturer of cars

A company that invented a very comfortable razor 

Explanation:

A family owned resturant is an example of a monpolistically competitive firm. A monpolistically competitive firm is characterised by many firms selling differentiated products. Advertising is one of the ways to attract customers to the restaurant.

A family owned farm is an example of a perfectly competitive firm. A perfectly competitive firm is characterised by many firms selling homogenous products. Thus, it won't be so necessary for a farm to advertise since its product is homogenous.

A car manufacturer exists in a monopolistic market. A monpolistically competitive firm is characterised by many firms selling differentiated products. Advertising is one of the ways to attract customers to purchase cars.

Forklifts aren't so differentiated. Therefore, there would be little need to advertise.

A manufacturer of a very comfortable razor should advertise his product to inform and attract customers. The manufacturer of a uncomfortable razor has no need to advertise.

I hope my answer helps you.

5 0
3 years ago
Assume investors expect a 2.0 percent real rate of return over the next year. If inflation is expected to be 0.5 percent, what i
kompoz [17]

Answer:

The correct answer is 2.5%

Explanation:

The rate of inflation is always factored in when calculating the expected market interest for a year.

From the example, the expected real rate of return/interest rate = 2.0 percent

Factoring in an expected 0.5% inflation rate,

= 2.0 + 0.5 = 2.5%

The expected market interest rate for a one-year U.S. Treasury Security = 2.5%

4 0
4 years ago
A major conclusion of the Hawthorne studies was that the best way to motivate workers was with monetary incentives such as pay r
guajiro [1.7K]

Answer:

False

Explanation:

Hawthorne is a researcher who tried to analyse and examine employee's behaviour and what motivates them to work more hard. The above statement is false because according to Hawthorne study employee's motivation is not related to incentives. Hawthorne concluded that an employee's motivation is strongly linked with their relationship with the manager and the supervisor. A healthy Employee – supervisor relationship motivates and encourage them to carry out directives.

8 0
3 years ago
The price at which a perfectly competitive firm sells its product is determined by_____________.
4vir4ik [10]

Answer:

b

Explanation:

to start a business you have to see what's on demand

7 0
3 years ago
Mia studies the habits of endangered pandas in the state zoo. Mia's career fa
tensa zangetsu [6.8K]
The answer is false
8 0
3 years ago
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