Podcast
Questions and Answers
Which economic system uses a mechanism and structure system to achieve performance on the (re-)allocation of resources, and the production and distribution of goods and services?
Which economic system uses a mechanism and structure system to achieve performance on the (re-)allocation of resources, and the production and distribution of goods and services?
- Centrally planned economic system
- Mixed economic system
- Market economy (correct)
- Traditional economic system
What are the three constraints that every firm faces on its actions?
What are the three constraints that every firm faces on its actions?
- Technological constraints, economic constraints, and market constraints (correct)
- Production constraints, cost constraints, and market constraints
- Production constraints, cost constraints, and financial constraints
- Technological constraints, economic constraints, and financial constraints
What does market structure refer to?
What does market structure refer to?
- The level of competition in a market
- The types of goods and services produced in a market
- The mechanism and structure used to allocate resources in a market (correct)
- The size of the market
What is assumed in this lecture about the knowledge of the audience?
What is assumed in this lecture about the knowledge of the audience?
What are the three ways in which society has evolved in the pursuit of resource allocation and production and distribution of goods and services?
What are the three ways in which society has evolved in the pursuit of resource allocation and production and distribution of goods and services?
Which mechanism and structure system are used to achieve performance on the (re-)allocation of resources, and the production and distribution of goods and services?
Which mechanism and structure system are used to achieve performance on the (re-)allocation of resources, and the production and distribution of goods and services?
What are the three constraints that every firm faces on its actions?
What are the three constraints that every firm faces on its actions?
What does market structure refer to?
What does market structure refer to?
Which economic system involves the government having control over resource allocation and production decisions?
Which economic system involves the government having control over resource allocation and production decisions?
What does the lecture assume prior knowledge on?
What does the lecture assume prior knowledge on?
