Which of the following is designed to act like a business and make money for the government? O Government Corporation O Independent Regulatory Commission O Department O Agency

Q: List three different religions and provide examples of how they affect business practices.

A: Hinduism: The belief in this religion that customers are king and they should be treated…

Q: Andrew is a deeply committed lover of croissants. Assume his preferences are Cobb-Douglas over…

A: Utility function :  U (C , N ) =  C0.5 N0.5Where , C =  Crosissants  , N  = Numeraire good…

Q: What does the total revenue represent?a

A: The income generated from normal commercial activities can be demarcated as revenue.

Q: An industry consists of three firms with sales of $285,000, $615,000, and $310,000. a. Calculate the…

A: HHI in economics refers to the Herfindahl-Hirschman Index. It is a commonly used method of market…

Q: Discuss the factors that led to the consumer movement and list some of its results.

A: The consumer movement refers to a social movement, led by consumer organisation to ensure protection…

Q: This is a form of governmental public policy that has been implemented to reduce the purchase of…

A: A sin tax is a type of excise tax. It is specifically levied on certain goods that are harmful to…

Q: privatization

A: Privatization often improves the efficiency of the firms. The main reason behind this is when the…

Q: How does the economy defined the business financially

A: A business is part of the economy, where goods and services are exchanged or sold at a particular…

Q: Write a sentence or two defining the following terms in your own words. Give examples of each. a.…

A: A) Scarcity - it means that resources are scarce in nature that is wants are unlimited but resources…

Q: A firm has market power if it can   a. minimize costs.   b. hire as many workers as it needs at…

A: Market refers to a place at which the buyers and sellers of a goods or services comes in contact…

Q: Why do producers have more interest in government regulations than consumers do?

A: Government regulations are those laws and rules which are used for placing limitations on businesses…

Q: Common resources area. efficiently provided by market forces.b. underprovided in the absence of…

A: Common resources are non-excludable but rival in consumption. Everyone accesses the common resources…

Q: What do you think is the most ideal and beneficial type of Market Structure? Why?

A: The market structure when there is fair competition between all the sellers or firms in the market…

Q: What kind of attention is required? Why should a business make sure it is taking fair steps in its…

A: What kind of attention is needed? Why should a company make sure that the right safety precautions…

Q: What is the main overriding goal of most businesses?

A: There are various objectives of the businesses, the three major objectives are: Social Objectives…