Price (Per Bag) Efficiency loss from underproduction Quantity (Bags) Price (Per Bag) (b) Efficiency loss from overproduction C’1 Quantity (Bags)
September 3, 2020
The Data Exercise must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf formats. OTHER FORMATS ARE NOT ACCEPTABLE, and
September 3, 2020

Identification please help huhu

1. a network of institutions that dispose and regenerate available resources

2. the total profits less total costs of productions

3. the ultimate motive of capitalists in penetrating 3rd World economies

4. an organization in communistic economies that formulates economic policies

5. an economic system with minimal government intervention

6. a matrix showing levels of outputs producers are willing to sell

7. a principle of a sound economic system subject to legal and moral values

8. a criterion in judging an economic system marked by reduced rates of inflation

9. the type of production that considers great proportions of labor over capital

10. an economic system in which the role of the private sector is minimal

11. a type of demand elasticity in which a change in price creates no change in QD

12. a scholarly attempt that explains the components of a market structure

13. the consumers’ responses to price instability in relation to their income

14. a discipline descriptive of a nation’s economic behavior at large

15. the law that states that when supply exceeds demand, price declines

16. the producers’ reactions to a decline in the equilibrium price

17. the process of transforming fixed and variable inputs into commodities

18. a technical combination of production inputs and obtainable outputs

19. the additional product brought about by one additional unit of a variable input

20. refers to the type of elasticity that shows the relationship between two products

21. a situation in which the vital ingredients for production are too limited

22. a general condition of un-productivity given scarce resources & opportunities

23. an organized team effort to produce and sell goods and services

24. a systematic study that determines profitability of an entrepreneurial activity

25. a phenomenon that describes inequitable allocation of economic resources

26. the graphical representation or equivalent of a firm’s production function

27. the techniques, procedures and methods used in production of goods

28. an amount that reduces production costs usually granted by the government

29. the theory prescribing acceleration of production as a response to economic problems caused by rapid population growth

30. a system that generates resources for the government to defray expenses

31. a general situation in which equilibrium prices rise due to market factors

32. refers to the positive consequences brought about by foreign investments

33. the type of economy (French equivalent) characterized by free trade

34. the market situation that regulates the flow of resources between economies

35. a type of elasticity that shows increases in QS given a constant market price

36. a graph that shows the same utilities for any combination of two products

37. a line that represents consumption possibilities given a consumer’s income

38. otherwise known as ‘unit cost’ in the production of goods

39. a ‘portion’ of the total cost that is sufficient to maintain current production

40. the cost foregone in ‘trading off ’ goods or services due to preferences & income

KM
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