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3 years ago

According to F.A. Hayek, what is the fundamental economic problem facing society?

Business

1 answer:

jenyasd209 [6]3 years ago

8 0

Answer:

According to F.A. Hayek, the fundamental problem facing every society is how to use limited resources in the most optimal way possible.

Explanation:

To Hayek, this problem could not be fully solved by any society, but the best a society could do is to rely on the price system, only possible under a free market, to signal which uses were more optimal than others.

This is also the reason why F.A. Hayek, along with fellow Austrian economists Ludwing Von Mises, believe that socialism could not work: socialism, according to Hayek and Mises, destroyes the price system, and without it, society has no rational way to allocate resources in an optimal way.

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What is the process of taking decision in the office?

Black_prince [1.1K]

Answer:

dress code, smile, thinking cap, and due process

Explanation:

u must have all of them to complete your job. if u not fit for work you not going to have a nice day. you must think the due process through and follow guidelines

4 0

3 years ago

A market situation where all participants have an incentive to exploit a resource yet no one can limit anyone else's access to t

3241004551 [841]

Answer:

Tragedy of the Commons

Explanation:

The tragedy of the commons refers to a situation where the individual could access to the resources that are shared for their own interest.

So it is the market situation where the participant expolited the resources also there is no limited for accessing the resources

So the above term should be considered for the given situation

5 0

3 years ago

Which of the following is NOT a core component of the Federal Reserve Bank? EVERFI

DaniilM [7]

A. Department of the Treasury

3 0

4 years ago

Leigh Meadows and Byron Leef formed a partnership in which the partnership agreement provided for salary allowances of $35,000 a

zalisa [80]

Answer:

Leigh is responsible for $5,000 in losses, and Byron for $15,000 in losses.

Explanation:

Since both income and losses are shared equally, we must first determine the partnership's total income:

Leigh Byron Total

salaries $35,000 $25,000 $60,000

net loss = income - total costs

-$20,000 = $60,000 - total costs

total costs = $60,000 + $20,000 = $80,000

divided by the 2 partners:

Leigh Byron Total

salaries $35,000 $25,000 $60,000

costs -$40,000 -$40,000 -$80,000

net loss -$5,000 -$15,000 -$20,000

7 0

4 years ago

3/7 x (-1/2) • MARKING BRAINLIEST TO THE ANSWER WITH AN EXPLANATION ON HOW U GOT THE ANSWER!

Nuetrik [128]

Answer : The answer of the given expression is $\frac{-3}{14}$

Explanation :

The given expression is: $\frac{3}{7}\times \frac{-1}{2}$

As we know that,

When we are multiplying a fraction by a fraction then multiply numerators and multiply denominators like this:

$\frac{X}{Y}\times \frac{A}{B}=\frac{X\times A}{Y\times B}$

So, the answer of the given expression will be:

$\frac{3}{7}\times \frac{-1}{2}$

By multiplying numerators and multiply denominators, we get:

$\Rightarrow \frac{3\times (-1)}{7\times 2}$

$\Rightarrow \frac{-3}{14}$

Therefore, the answer of the given expression is $\frac{-3}{14}$

7 0

3 years ago