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Sati [7]
2 years ago
13

Economic efficiency is

Business
1 answer:
Gnoma [55]2 years ago
6 0

Answer: Option (A) is correct.

Explanation:

In a competitive market, when the demand curve i.e. the marginal benefit curve is exactly equal to the supply curve i.e. marginal cost curve and at this point the sum of consumer and producer surplus is maximized then an equilibrium is set in an economy and economic efficiency is obtained.

Inefficiency occurs at a point where there is a disequilibrium in an economy which means that competitive equilibrium is not achieved by the economy.

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9. Study Question #9 Ch 7. Evaluate the following statement describing the strategy that East Asia used from the 1970s to the 19
horsena [70]

Answer:

East Asia's accomplishment in accomplishing a high development rate is a miracle.The example of overcoming adversity centers around outside trade,savings of government and above all in teaching young men and young ladies so that by accomplishing high education level they can accomplish high financial growth.East Asia likewise have a high PPP(Purchasing Power Parity)which helped them to accomplish high growth.Countries like China and Japan are putting more in colleges.  

Fare - situated methodology assumes a significant job being developed of East Asia.Many nations like Japan,Taiwan,China moved to send out polocies to cultivate high econmic growth.Of course,open exchange will be a significant development driven motor and the creating nations will considered it as a most significant weapon in accomplishing growth.Thus,industrialisation is a significant rebound for East Asia to accomplish high financial development.  

Therefore,industralisation,openness to trade,educational accomplishment and import-send out approaches helped East Asia to accomplish high econmic development.  

(b)We know the idea of 'theory of unavoidable losses or Total Factor Productivity.It states that at one point including one extra factor of creation brings about a lessening increment in output.For example,if we utilize laborers to fabricate an item then at a specific level the creation is steady and by utilizing more,the yield decreases.So we can say that the given articulation is valid.  

TFP is a significant factor for high development rate.East Asian nations have accomplished a high growth.Most of this is from factor accumulation.East Asia TFP can't and along these lines the nations lost their normal development achievement.High monetary development brings about low TFP.

8 0
3 years ago
In a perfectly competitive market in​ short-run equilibrium,​ _______. A. the price and quantity bought and sold in the market a
Thepotemich [5.8K]

Answer:

D. Market supply and market demand determine the price and quantity bought and sold in the market.

Explanation:

In perfectly competitive market, equilibrium price and quantity is determined at the point where the aggregate supply curve and aggregate demand curve intersect.

If either supply or demand changes, the supply/demand curve will shift to intersect the demand/supply curve at a new equilibrium point.

In other words, although both suppliers and buyers are price-takers they both influence price and quantity bought and sold,<em> at the aggregate level</em>.

4 0
3 years ago
Read 2 more answers
g For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning, adjustin
lesya692 [45]

Answer: a clear, distinctive, and desirable understanding of their products relative to competing products.

Explanation:

Marketing mix is regarded as the foundation model for every business as it's based on the product, the price, place, and also promotion. Marketing mix is the marketing tools sets used in pursuing the marketing objectives of s company.

For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning, adjusting their marketing mix variables in order to give customers a clear, distinctive, and desirable understanding of their products relative to competing products.

4 0
3 years ago
How does a payroll accountant use the information in the General Ledger? (You may select more than one answer. The account balan
son4ous [18]

Answer: General Leger account balances aggregate data to determine payroll costs .

The account balances form the basis for accounting reports.

Explanation: a General ledger is defined as the central accounting record of a company or organization consisting of the accounts that support the value items shown in the major financial statements.

The general ledger provides information of accounting reports which in turn is used to balance aggregate data to determine payroll costs .

4 0
3 years ago
As a rule of thumb, how often should an entrepreneur reevaluate her compensation package?
shusha [124]

Answer:

12 months

Explanation:

The fiscal or financial period of a business lasts for 12 months or one year. It means that at the end of that  12 months, the business prepares its financial statement to determine its profitability. The business assesses its growth, success, and failure for the period.

After evaluating performance, planning for the next period of 12 months begins. The entrepreneur prepares a budget for the year, including their compensation. Compensation for the entrepreneur should be budgeted and reviewed every year together with the other budget items.

7 0
2 years ago
Read 2 more answers
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