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Define the term Entrepreneurship Entrepreneurship : An entrepreneur is an individual who takes risks and organises the factors of production to make a product and therefore
Perfect competition: Perfect completion refers to the market structure in which there are a large number of relatively small firms, each firm having freedom of entry into and
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica
please can you explainn what "down 0.1 percentage point on the quarter means"?
central problems of capitalist economy
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
It is necessary for the proper understanding of the price theory to know the various concepts of cost that are often employed. When an entrepreneur undertakes production of a commo
How does the GPI adjust for increasing U.S. income inequality? Starting with the category of Personal Consumption Expenditures, the GPI adjusts for enhancing income inequality
Planned Order Releases - MRP System In an MRP system, if gross requirements exceed the quantity on hand and on order, a net requirement results. Planned orders are created to
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