Define the term autarky in the economy. Note i need a plagiarism free ans.

Q: The equation of demand is Q=10000-5p, supply is Q=-2000+10p Q represents the quantity of houses on…

A: When P = 300, Quantity demanded (Qd) = 10000 - 5 x 300 = 8500 Quantity supplied (Qs) = - 2000 + 10 x…

Q: How is the father of economics

A: Economics is a study of social science which allocates the limited resources to the unlimited wants…

Q: What is tax system? Define and explain in your own words.

A: Taxation is the process by which a taxing authority, usually a government, imposes a financial…

Q: The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged…

A: (i) Price elasticity of demand for taxicab when fare rises from $5 to $6 is calculated as follows.

Q: How will each of hejollowing donand and bupplyaffertseguilbrium and "equilibriumquantity in a…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Why is competition important in a free market? How can competition affects privces?

A: Free market: Free market is an economic system that is very much dependent on the demand and supply…

Q: Many transportation systems, such as theWashington, D.C., Metro (subway), charge higherfares during…

A: Charging of higher prices during peak demand is known as peak pricing. It is basically done to…

Q: The authors of our book une the fonn indirect lobby ng and thly is most olosely oalogo0s 60 tolobd…

A: d Interest group organizations doing grassroot lobbying

Q: When a tax is collected from the buyers in a market,. a. the tax burden falls most heavily on the…

A: Option b: This option is correctThe correct answer is: b. The buyers bear the burden of the tax.The…

Q: Mustafa earns 72,000 TRY in a year. Assume that he has 8,000 TRY tax exemption. The following figure…

A: Marginal tax refers to tax paid on every additional income earned. Percentage of increment in income…

Q: What is legal economy

A: A market where there is a one seller in the market is known as the monopoly. The seller of the…

Q: whether a glut or overproduction -excess supply of all goods in an economy- is possible or not.

A: Excess supply is a situation where the demand for goods and service is exceeded by the supply for…

Q: Economics deals with the question as to “how to acquire more and more wealth by a nation,” and “how…

A: The country of Oman is a sovereign and monarch country. In which all the powers whether it is legal,…