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jonny [76]
3 years ago
13

The idea that "the invisible hand" of competition sets prices and determines quantities produced in a market economy was the pri

nciple idea of __________.Select one of the options below as your answer:
a. Karl Marx
b. Adam Smith
c. George Washington
d. Thomas Jefferson
Business
2 answers:
Alex73 [517]3 years ago
8 0

Answer:

B. Adam Smith

Explanation:

sp2606 [1]3 years ago
3 0
The idea that "the invisible hand" of competition sets prices and determines quantities produced in a market economy was the principal idea of B.) ADAM SMITH.

Invisible hand is said to be the metaphor Adam Smith used in referring to unintended social benefits that resulted from individual's actions.
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Why does manufacturing's multiplier effect matter to an economy?
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It has a greater impact than service industries.

Explanation:

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1.​Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts
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You are the Accounting Director for SpaceX based in New York. Your department is implementing new accounting software (called Fi
soldier1979 [14.2K]

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Explanation:

To: All Staff SpaceX Team

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3 years ago
Josephine quits her $40,000 a year job to start her own business. She rents an office for $15,000 a year, pays wages and salarie
Sliva [168]

Answer:

b. $51,000 and $5000.

Explanation:

According to the scenario, computation of the given data are as follows,

Total Revenues = $140,000

Explicit cost = $15,000 + $50,000 + $4,000 + $20,000 = $89000

Implicit cost (opportunity cost) = $40,000 + $6,000 = $46,000

So, we can calculate accounting profit and economic profit by using following formula,

Accounting Profit = Total revenue - Explicit cost

By putting the value, we get

= $140,000 - $89,000

= $51,000

Economic Profit = Total revenue - Explicit cost - Implicit cost

By putting the value, we get

= $140,000 - $89,000 - $46,000

= $5,000

3 0
3 years ago
A corn farmer is considered a ________ if he chooses not to join the national interest group his fellow farmers created, yet sti
muminat
A corn farmer is considered a free rider if he chooses not to join the national interest group his fellow farmers created, yet still reaps the benefits of the tax incentives the group lobbied for and won. 
The free rider problem is an economic concept of a market failure that occurs when people or individuals are benefiting from resources, goods or services that they do not pay for. In our case, the corn farmer is benefiting from the tax incentives the group lobbied for, yet he or she made zero input or effort to contribute to the groups agenda in getting tax incentives. <span />
7 0
3 years ago
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