How does economics relate to political philosophy?
Economics is concerned with studying and influencing the economy. Politics is the theory and practice of influencing people through the exercise of power,...
Category: General
What is ICC and PCC?
The main difference between an ICC and a PCC structu lies in their legal status. An ICC, and each of its incorporated cells, are each separate legal perso...
What effect do tariffs have on the prices of foreign products quizlet?
What are the effects of a tariff? Tariffs bring about higher prices and revenues to domestic producers and lower sales and revenues to foreign producers. ...
What are goods and services determined by?
A command economy is an economic system in which the government, or the central planner, determines what goods and services should be produced, the supply...
Why is the demand curve perfectly elastic for a firm in a perfectly competitive market?
Under perfect competition, a demand curve of the firm is perfectly elastic because the firm can sell any amount of goods at the prevailing price. So even ...
What is the income approach to calculating GDP?
income approach to GDP an approach to calculating GDP that involves adding up all of the income earned within the borders of a country in a given year; th...
What are the examples of technological forces?
General examples of Technological Factors affecting business include: The existence of 3D technology. Computer calculation speed/power. The ability of com...
Which of the following describes a condition that is least favorable for conducting an IPO?
A condition that is least favorable for conducting an ipo is recession. What happens to existing shareholders in an IPO? Existing shareholders can sell th...
Why does collusion and cartel is illegal in some countries?
A group of firms that have a formal agreement to collude to produce the monopoly output and sell at the monopoly price is called a cartel. In the United S...
What did Martin Van Buren believe in?
Van Buren was a strong believer in the Jeffersonian ideas of limited national government and state’s rights, and he strongly opposed the Federalist Party....
