Question: Theoretically, the market is an automatic, competitive, self-regulating mechanism which provides for the maximum consumer welfare and which best regulates the use of the factors

Theoretically, the market is an automatic, competitive, self-regulating mechanism which provides for the maximum consumer welfare and which best regulates the use of the factors of production.” Explain.

Step by Step Solution

★★★★★

3.50 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Productivity and market demand are the determinants of the standard of liv... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

103-B-M-I-M (12).docx

120 KBs Word File

Students Have Also Explored These Related Marketing Questions!

Dan has a 20-year-old vintage car behind his residence. He has rarely used it. This year he discovers that it has been completely destroyed by rust. The car originally cost $5,000 and had a fair...

Explain why government is usually more concerned about regulating an oligopoly than a monopolistically competitive market.

The Clean Air Act provides a basis for regulating air pollution from what two kinds of sources?

5. Theoretically, the market is an automatic, competitive, self-regulating mechanism which provides for the maximum consumer welfare and which best regulates the use of the factors of production....

Theoretically, the market is an automatic, competitive, self-regulating mechanism that provides for the maximum consumer welfare and that best regulates the use of the factors of production. Explain.

-Explain the role of price as a free market regulator. -theoretically the market is an automatic, competitive, self regulating mechanism which provides for the maximum consumer welfare and which best...

1. Select only one of the following financial statements to discuss; balance sheet, income statement, or statement of cash flows. 2. Describe 3 uses of the financial statement you chose.Hint: I think...

Describe at least three uses and limitations of the attached (Ford motor company) financial statement. How do the limitations affect the usefulness of that financial statement and why do they exist...

Can you think of the factors that make the computer and IT environment different to a more traditional non-computing medium? As new technologies are introduced new factors are arising every day....

According to a genetics theory, a certain cross of guinea pigs will result in red, black, and white offspring in the ratio 8:4:4. Find the probability that among 8 offspring 5 will be red, 2 black,...

Describe three pieces of information in a balance sheet a financial analyst would use to determine a company's financial health

The funding requirement for the project is that the project gets additional funding only when they have met previous criteria to move to the next piece. The Sponsor wants to know how a Project...

The measure of a competent researcher is the ability to utilize the most sophisticated and adequate techniques and methods available within the limits of time, cost, and the present state of the art....

Using the list NIC growth factors, evaluate Mexico and Brazil as to their prospects for rapid growth. Which factors will be problems for Mexico or Brazil?

You are the sales manager of a small company with sales in the United States. About 30 percent of your business is mail order, and the remainder is from your two retail stores. You recently created...

To estimate the amount of lumber in a tract of timber, an owner randomly selected seventy 50-by50foot squares, and counted the number of trees with diameters exceeding 12 inches in each square. The...

A 4-year project, X, with an upfront cost of $20 million is expected to yield the following series of cash flows: $3.60 million in year one, $4.20 million in year two, $5.70 million in year three,...

Question 4 of 6 For 5 years, Janet saved $600 at the beginning of every month in a fund that earned 4.5% compounded annually. a. What was the balance in the fund at the end of the period? Round to...