Answer:
scarcity, tradeoffs, efficiency, and opportunity costs.
Answer:
d
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
Perfectly competitive market consists of a large number of firms, and each firm is small relative to the entire market. This makes firms unable to set the prices for their goods.
It is the monopoly and oligopoly market structure that is characterised by high entry and exit into the market
I think it’s D but I’m not sure
Answer: The answer is trade deficit.
Explanation: Balance of trade is represented by net exports (exports minus imports) and is usually influenced by factors that affect international trade. Those factors inflation include: inflation, natural endowment, exchange rate, trade policy, pandemics (e.g., coronavirus).
A trade surplus occurs when the value of a nation's exports is more than the value of its imports. However, trade deficit occurs when the opposite happens.
Answer:
are $270 billion
Explanation:
Change in business inventories in 2012 = -$70 billion
GDP of 2012 = $200 billion
Final sales in 2012 = GDP - Change in inventory
Final sales in 2012 = $200 billion - (- 70 billion )
Final sales in 2012 = $200 Billion + 70 billion
Final sales in 2012 = $270 billion
Hence proved that the correct answer is $270 billion
