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4 years ago

Use the following classification to determine which category each of the following goods falls into.

Business

1 answer:

valkas [14]4 years ago

5 0

Answer:

When a good is said to be Excludable, it means that it's access can be restricted to being used by only a certain number of people.

Similarly Non-Excludable is the opposite.

And when a good is said to be Rival in Consumption, it means that when it is used, it reduces the chances of other being able to use the good because it is being depleted.

Non - Rival means the opposite.

Public Goods

These goods are said to be Non-Rival and Non - Excludable. Their use by one person does not deplete it for another and it's access cannot be restricted to certain people.

Private Goods

These Goods are both Rival and Excludable.

Club Goods

These goods are Non-Rival in nature, but they are Excludable.

Common Resource

These are Rival goods but they are Not - Excludable.

Public swimming pools with free admission during summer. - Common Resource

Public Pools are rival goods because when they are used by people, the quality reduces and more treatment or water will have to be added to maintain it. It is Non-Excludable however because it is open to all with free entrance.

Flood control - Public Good

Flood control is a state sponsored program aimed at helping everyone in the country or rather the affected area. It is non-excludable and non-rival in nature.

Private security patrol with idle officers - Club Resource

This is a club resource because the security provided is non - rival in that it does not get depleted. However because they are private, they only protect certain people which makes it Excludable in nature.

Public basketball courts - Common Resource

Anyone can use Public Courts thereby making them Non-Excludable. However, the more people that use the courts, the more damaged it gets making it Rival in nature.

Flu vaccine - Private Good

Flu vaccines are Rival in Consumption in that every flu vaccine given to one person reduces the amount of flu vaccine available for others. It is also Excludable because not all people get it as it is free up to a certain age and then has to be paid for.

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Roman55 [17]

Answer:

The statement is: True.

Explanation:

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The marketing department has the task and duty of spotting those details that could ignite another institution's emotions over its production.

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3 years ago

In a democratic capitalist environment the price mechanism automatically becomes the planning tool for its homeostasis; what is

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Answer:

In a market economy, the price mechanism is indeed the primary coordinator of the decisions of buyers and sellers, because the price for goods and services adjust to an equilibrium point, where demand and supply are equal.

However, the public sector still has two important functions in this enviroment:

Correcting market failures - a market failure is a situation in which the market does not produce a good outcome. An example of market failure is pollution. Market failures can be corrected by government intervention, for example, by setting anti-pollution regulations.
Providing public goods - some public goods are not provided by the private sector because they are not profitable. The public sector can therefore step in and provide this type of goods.

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3 years ago

Jeff has to pay his car insurance annually. If his total bill is $744, how much money should he set aside each month for car ins

lesantik [10]

A - $62. Divide 744 by 12.

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3 years ago

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When the employees of a large maintenance and building repair company tried to organize a union, the company fired several of th

irinina [24]

Answer:

Union suppression tactics.

Explanation:

Union suppression tactics are used to avoid union from taking steps that cause productivity of organization or taking steps against the management. It is illegal to supress the union from organizing any protest or asking any question to manegement.

Employer take different steps to supress union are plant closings, refusing to hire pro-union applicants, firing or harassing union supporters and suing permanent strike replacements

Employer should avoid following steps to negotiate union smoothly instead:

Threaten: Employer should never retaliate or threaten employee to avoid union.
Interrogate: Never interrogate employees about their intentions or any activities.
Promise: Never promise anything to employee as it create high expectation and it lead to misunderstanding if it is not met.
Spying: Employees have the right to meet with the union representatives and “hear them out” without management interference, so employer should never spy against employee.

Employer should have regular communication with employee to avoid union at workplace.

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3 years ago

The following is a free response question released by the College Board from a previous AP exam to be used as practice for futur

astraxan [27]

Solution and Explanation:

(a). Firm in perfect competition produces at minimum efficient scale, MEC where average cost AC is minimum. The price is determined by the market supply and demand.

(b) Note that q1 is at the minimum of AC while Q* is to the left of q1. Similarly, P1 is equal to MC while P* is higher than MC. This shows that firms in perfect competition produce more and charge less than the firms in monopolistically competitive market.

(c) All firms in monopolistically competitive market as well as perfectly competitive market earn zero economic profit in the long run. This is because there is a free entry and exit

(d) Demand is steeper for firms in monopolistically competitive market so that demand is elastic. Demand is horizontal for any quantity which means it is perfectly elastic for a firm in competitive market.

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