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Monica [59]
3 years ago
9

Angorasia, an Asian country, supports a free market system. The flexible economy of the country makes it fairly easy for new sel

lers to enter the market, which in turn gives buyers a variety of choices in terms of products and services. Given this information, it can be said that Angorasia supports _____.
a. protectionism

b. integralism

c. consumerism

d. neorealism
Business
1 answer:
skelet666 [1.2K]3 years ago
5 0

Answer:

The correct answer is letter "C": consumerism.

Explanation:

Consumerism is the approach stating that only individuals' demand for goods and services should drive the economy. This idea departures from the belief that an increase in consumption leads to an increase in production, thus, the overall economic growth.

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Assume that​ "cost of​ processing" includes all labor and​ materials, including the​ owner's wages. Assume further that​ Isabel'
Vika [28.1K]

Answer:

Check the explanation

Explanation:

In the field of economics, to draw a graph that will show a cost curve of any item will involve the costs of production as a function of the overall quantity that was produced. When there’s a free market economy, productively effective and efficient firms optimize their production procedures by reducing their cost consistent with each potential level of production, thereby resulting into a cost curve.

Kindly check the attached images below to see the full explanation and the graphical presentation of the total cost curve.

7 0
3 years ago
During the forming stage team members meet one another and determine team goals. False True
Zarrin [17]

Answer:

True

Explanation:

7 0
3 years ago
List four natural resources that you think would go into the production of the following products
fenix001 [56]

Answer:

sorry I think u got yr question incomplete..

Explanation:

Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water. Animals, birds, fish and plants are natural resources as well.

<h2>stay safe healthy and happy.</h2>
5 0
3 years ago
Productivity is the
Lunna [17]

Answer:

The correct answer is option a.

Explanation:

Productivity can be defined as a measure of the efficiency of a person, factory, machine, system, etc, to convert inputs into outputs. In other words, it is the rate of output per unit of input.  

Productivity is an important determinant of living standards. A higher level of productivity means better living standards. This implies that growth in productivity is the key determinant of growth in living standards.

5 0
3 years ago
When firms exit a market, the _________, causing individual firms’ profits to _________.
Tpy6a [65]

Answer:

<em>When firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>

Explanation:

The process of <em>free entry and exit of firms</em> is in a sequence as explained under-

  1. If there is higher demand in the market of the product as compared to its supply, then each firm in the market will receive higher price for its product.
  2. This will increase the prices of the product, enabling higher profits for each firm. This will make the industry attractive, enabling the introduction of newer firms in the market.
  3. When the new firms enter the industry, the prices of the product in the market will drop due to higher competition, now present currently. This will lead to lowering of profits for the firms in the industry.
  4. This will make the industry non-attractive and thereby the less competitive and less effective firms will exit the market in the short run.
  5. This exit of firms from the industry, will lead to higher prices again due to less supply of product in the market as compared to its demand. Hence, the profits of the firms present in the industry will increase.

Thus, it can be concluded that <em>when firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>

4 0
3 years ago
Read 2 more answers
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