education insights
Is a recession the same as inflation?
Inflation is referred to as the situation when the price level of goods and services rise, which leads to decline in the purchasing power in the economy o...
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Education Insights
education insights
Why can growing and expanding a business be a problem?
increased capital requirements – a larger business means a larger workforce, more facilities or equipment, and more investment. increased staff turnover –...
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Is the US economy is in an inflationary or recessionary gap?
Data released last week showed the U.S. economy grew at a 6.4% annualized rate in the first three months of this year and was almost back to the level of ...
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What are 2 things the government can do to help the economy?
To protect the economy, the U.S. government can utilize its fiscal policy by raising or lowering taxes and/or increasing or decreasing spending, as well a...
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What industry is perfectly competitive?
Perfect competition: An industry structure in which there are many firms, none large enough to influence the industry, producing homogeneous products. Fir...
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What was the average price of gasoline in 2016?
$2.14 per gallon U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual a...
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What are examples of private goods?
We encounter private goods every day. Examples include a dinner at a restaurant, a grocery shopping, airplane rides, and cellphones. A private good is thu...
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What is assumption of indifference curve?
The negative slope of the indifference curve reflects the assumption of the monotonicity of consumer’s preferences, which generates monotonically increasi...
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Why are consumers and producers important to the marketplace?
Consumers are the main source of demand for all the goods. The producers of industrial goods or the producers of agricultural products are all producing t...
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Which market stands between perfect competition and monopoly?
OLIGOPOLY 14.3 OLIGOPOLY Another market type that stands between perfect competition and monopoly. Oligopoly is a market type in which: • A small number o...
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