Description : Can there be a situation where over-regulation of a free capitalist economy lead to economic socialism?
Last Answer : answer:I think that the amount of regulation necessary would be unlikely. Also, it would have to actively take wealth and redistribute it, which goes beyond any contemplated regulation.
Description : A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available
Last Answer : (2) Goods are sold secretly Explanation: Black market is the market in which illegal goods are traded. Goods acquired illegally take one of two price levels: (i) they may be cheaper than legal ... defining feature of black markets is that they have to be carried out secretly as they are illegal.
Description : Situation Analysis is useful for: (1) Analysis of Capital Market (2) SWOT Analysis (3) Capital Market. (4) Analysis of Capital Market and Capital Market.
Last Answer : (2) SWOT Analysis Explanation: Three of the four options in the question are identical. Situation analysis refers to a collection of methods that managers use to analyze an organization's internal ... , and external opportunities and threats faced by it are closely examined to chart a strategy.
Description : Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced
Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.
Description : Bilateral monopoly refers to the market situation of - (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : (4) one seller and one buyer Explanation: In a bilateral monopoly there is both a monopoly (a single seller) and monopsony (a single buyer) in the same market. The one supplier tends to act ... buyer looks towards paying a price that is as low as possible. Since both parties have conflicting goals,
Description : A Black Market is a situation wherein (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available (sold) only after there is a rise in prices
Last Answer : Goods are sold secretly
Description : Situation Analysis is useful for: (1) Analysis of Capital Market (2) SWOT Analysis (3) Capital Market (4) Analysis of Capital Market and Capital Market
Last Answer : SWOT Analysis
Description : Bilateral monopoly refers to the market situation of (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : one seller and one buyer
Last Answer : demand exceeds supply
Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.
Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).
Description : Economic development depends on : (1) Natural resources (2) Capital formation (3) Size of the market (4) All of the above
Last Answer : (4) All of the above Explanation: Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and ... competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives.
Last Answer : All of the above
Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.
Last Answer : Economic rent is the difference between the market wage and the reservation wage.
Description : Of the following land uses, which is restricted to Special Economic Zones ? (1) Educational Institutions (2) Free trade Centres (3) Marketing Centres (4) Information Technology Companies
Last Answer : (2) Free trade Centres Explanation: The category Special economic zone includes free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE) ... zones. The goal of a SEZ structure is to increase foreign direct investment by foreign investors.
Last Answer : Free trade Centres
Description : Could there ever be a free market, laissez-faire capitalist world without poor people or is socialism the only solution to ending poverty?
Last Answer : “Could there ever be a free market, laissez-faire capitalist world without poor people” No. On the contrary, it requires poor people in order to function.
Description : How is the free market a good thing?
Last Answer : A true free market is probably impossible, given human nature (just like pure collectivism). Still, I’d rather have our semblance of a free market than a Soviet style control economy.
Description : One of the features of a free market economy is - (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer's sovereignty
Last Answer : (4) consumer's sovereignty Explanation: Consumer Sovereignty is one of the features of a free market economy. It refers to the assertion consumer preferences determine the production of goods and ... market performance is in fact responsive to the specific wants of the consumers within the system.
Description : Which of the following is not helpful in controlling money supply? (1) Free market policy (2) CRR (3) Bank Rate (4) Change in margin requirement
Last Answer : (1) Free market policy Explanation: The Central Bank of a country regulates money supply with the help of open market operations, changing the reserve requirements (CRR) and changing discount rate ( ... In India, the Reserve Bank of India has recently been resorting more to open market operations.
Description : A 'Market Economy' is one which - (1) is controlled by the Government (2) is free from the Government control (3) in influenced by international market forces (4) All of these
Last Answer : (2) is free from the Government control Explanation: A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the ... little government intervention or central planning. The United States is the world's premier market economy
Description : 1) Which among the following could be said to be an 'Open Economy'? a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other ... services and financial assets c) An economy that operates without government intervention d) None of the above
Last Answer : : b) A nation that trades with other nations in goods and services and financial assets
Description : What does the term free-market denote in terms of economy? a) Minimal government intervention in trade and minimum regulations b) Maximum government intervention in trade and maximum regulations c) Means of production owned by the state d) None of the above
Last Answer : : a) Minimal government intervention in trade and minimum regulations
Description : Macroeconomics is a study of economics that deals with which 4 major factors: a) households, firms, government, and demand-supply b) households, firms, government and external sector c) firms, government, free-market, and regulations d) none of the above
Last Answer : b) households, firms, government and external sector
Description : Which of the following is not helpful in controlling money supply ? (1) Free market policy (2) CRR (3) Bank Rate (4) Change in margin requirement
Last Answer : Free market policy
Description : One of the features of a free market economy is (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer’s sovereignty
Last Answer : consumer’s sovereignty
Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production
Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market
Description : A ‘Market Economy’ is one which (1) is controlled by the Government (2) is free from the Government control (3) in influenced by international market forces (4) All of these
Last Answer : is free from the Government control
Description : The European Union is an example of ______. A. monetary union. B. free trade area. C. common market. D. economic union.
Last Answer : D. economic union.
Description : Does anyone think this chart by xkcd should be in schools to help students understand money, taxes, expenses, income and other economic issues?
Last Answer : answer:Could you post a link to the chart? I think such a chart could be an excellent teaching tool. OTOH, such a chart has quite a potential to be abused as a political tool to skew the ... impartial teaching tool or a way to push the whole evil capitalist world view without actually seeing it.
Description : What exactly is free trade and what business of our economy benefit from it?
Last Answer : answer:Free trade. Hint: all businesses benefit in the same way. What does your textbook or teacher say? Think of a lemonade stand. You buy the lemons from Mexico; the lumber from the Pacific NW in the United States; import child labor from Canada and use your local bank to hold the profits.
Description : Which one of the following statements is true about the term resources? (a) Resources are free gifts of nature. (b) They are the functions of human activities. (c) All those things which are found in nature. (d) Things which cannot be used to fulfill our needs.
Last Answer : (b) They are the functions of human activities.
Description : Assertion (A): Money in our pocket cannot buy us all the things we need to live. Reason (R): Money cannot buy us a pollution free environment, unadulterated medicines and pollution free environment etc. a) Both A and ... of A. c) A is correct but R is wrong. d) A is wrong but R is correct.
Last Answer : a) Both A and R are true and R is the correct explanation of A.
Description : The situation analysis is a. a team exercise. b. designed to help your group understand the current market conditions. c. designed to help your group understand how the industry will evolve over the next 8 years. d. a five part analysis. e. all of the above.
Last Answer : e. all of the above.
Description : Have you read any authoritative reports about the situation in Venezuela?
Last Answer : answer:Go to the Economist web site - they're pretty serious and authoritative. British magazine mostly reporting on business and economics. Written with a British flourish. Several articles ... ://www.economist.com/news/americas/21699181-country-poised-between-chaos-and-dictatorship-trouble-streets
Description : How serious is the situation in the world?
Last Answer : answer:It's really no different than it has always been. I imagine your question was one of the first being inscribed in clay tablets and has continued being asked every year since then. Wars and ... the population will eventually crawl out of the rubble and start the same old shit all over again.
Description : What does the situation in Japan mean for Japanese cars?
Last Answer : I see this Q has basically been asked by @john65pennington
Description : Stagflation refers to a situation which is characterized by - (1) stagnant employment and deflation (2) deflation and rising unemployment (3) inflation and rising employment. (4) inflation and rising unemployment
Last Answer : (4) inflation and rising unemployment Explanation: Stagflation describes a situation where an inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high ... economic policy since actions designed to lower inflation may exacerbate unemployment, and vice versa.
Description : Deflation is a situation in which - (1) The value of money is falling. (2) The price of goods is increasing. (3) The value of money is increasing. (4) The price level is stagnant.
Last Answer : (3) The value of money is increasing. Explanation: Deflation is a situation where the prices of goods and commodities in a country go down. i.e., there is negative inflation. This is caused ... conversely, deflation increases the real value of money - the currency of a national or regional economy.
Description : Stagflation is a situation of - (1) stagnation and deflation (2) stagnation and recession (3) stagnation and inflation (4) stagnation and recovery
Last Answer : (3) stagnation and inflation Explanation: Stagflation is a situation of stagnation in which the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high. Stagflation occurs ... t growing but prices are, which is not a good situation for a country to be in
Description : Full employment is a situation where - (1) there is no involuntary unemployment (2) there is involuntary unemployment (3) there is no voluntary unemployment (4) there is voluntary unemployment
Last Answer : (2) there is involuntary unemployment Explanation: Full employment refers to a situation in which every able bodied person who is willing to work at the prevailing rate of wages is, in fact, employed. It ... which occurs when those who are willing to work at the going wage rate do not get work.
Description : Inflation is a situation characterized by (1) Too much money chasing too few goods (2) Too few money chasing too much goods (3) Too many people chasing too few goods (4) Too many people chasing too little money
Last Answer : (1) Too much money chasing too few goods Explanation: Demand-pull inflation is asserted to arise when aggregate demand in an economy outpaces aggregate supply. It involves inflation rising as real gross ... the Phillips curve. This is commonly described as "too much money chasing too few goods."
Description : When too much money is chasing too few goods, the situation is - (1) deflation (2) inflation (3) recession (4) stagflation
Last Answer : (2) inflation Explanation: Demand-pull inflation is asserted to arise when aggregate demand in an economy outpaces aggregate supply. It involves inflation rising as real gross domestic product rises and ... few goods", since only money that is spent on goods and services can cause inflation.
Description : The term stagflation refers to a situation where - (1) growth has no relation with the change in prices (2) rate of growth and prices both are decreasing (3) rate of growth in faster than the rate of price increase (4) rate of growth is slower than the rate of price increase
Last Answer : (4) rate of growth is slower than the rate of price increase Explanation: In economics, stagflation is a situation in which the inflation rate is high, the economic growth rate slows ... developed countries. For these countries, including the U.S., stag-nation increased the inflationary effects.
Description : A situation of large number of firms producing similar goods is termed as : (1) Perfect competition (2) Monopolistic competition (3) Pure competition (4) Oligopoly
Last Answer : (1) Perfect competition Explanation: The fundamental condition of perfect competition • is that there must be a large number of sellers or firms. Homogeneous Commodity is the second fundamental condition of a perfect market. The products of all firms in the industry are homogeneous and identical.
Description : When too much money is chasing too few goods, the situation is - (1) Deflation (2) Inflation (3) Recession (4) Stagflation
Last Answer : (2) Inflation Explanation: Inflation occurs when too much money is chasing too few goods. The prevailing view in mainstream economics is that inflation is caused by the interaction of the supply of ... prices is a result from an increase in the supply of money by central banking authorities.
Description : When there is one buyer and many sellers then that situation is called - (1) Monopoly (2) Single buyer right (3) Down right (4) Double buyers right
Last Answer : (2) Single buyer right Explanation: In economics, a monopsony (mono: single) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, ... of a monopsony. Another possible monopsony could develop in the exchange between the food industry and farmers.
Description : The sale of branded articles is common in a situation of - (1) excess capacity (2) monopolistic competition (3) monopoly (4) pure competition
Last Answer : (2) monopolistic competition Explanation: Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by ... competition include restaurants, cereal, clothing, shoes, and service industries in large cities.
Description : The situation in which total Revenues equals total cost, is known as : (1) Monopolistic competition (2) Equilibrium level of output. (3) Break even point (4) Perfect competition
Last Answer : (3) Break even point Explanation: In economics and cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even."
Description : The situation in which total revenue is equal to total cost, is known as - (1) monopolistic competition (2) equilibrium level of output (3) break-even point (4) perfect competition
Last Answer : (3) break-even point Explanation: In economics and cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or ... made, although opportunity costs have been "paid", and capital has received the riskadjusted, expected return.
Description : Regarding money supply situation in India it can be said that the : (1) Currency with the public is inconvertible only. (2) Currency with the public is less than the deposits with the banks. (3) ... the deposits with the banks. (4) Currency with the public is almost equal to the deposits with banks.
Last Answer : (2) Currency with the public is less than the deposits with the banks. Explanation: Money supply in India includes the following: (i) Currency with the public: (ii) Demand deposits and time ... to total supply of money has been increasing with reciprocal diminution in currency held by the public.