Business, 07.09.2021 21:40 Queentdawg7177
Because resources are limited, not everyone can have everything he or she wants. People make choices about how to spend the money they have. Businesses make choices about what to produce and when to produce it. Societies make choices about how to use their resources. In the United States, for example, elected representatives decide how much money to spend on defense and how much on education. How people and societies make these choices is the focus of economics.• What basic economic choice must people and societies make?
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Business, 22.06.2019 03:40
2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.
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Business, 22.06.2019 17:00
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Business, 23.06.2019 16:00
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Because resources are limited, not everyone can have everything he or she wants. People make choices...
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