How do the three basic economic questions relate to the firm?
What will be an ideal response?
Firms must choose WHAT goods and services to produce, HOW to produce them (through appropriate choice of resources and technology), and FOR WHOM they will be provided (what segment of the market on which to focus).
Economics
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A bank run occurs when:
A) a bank experiences an extraordinarily large volume of withdrawals. B) a bank sells its assets to its own stockholders. C) the central monetary authority regulates the functioning of banks. D) a bank's assets exceeds its liabilities.
Economics
When a group is discriminated against, its
A) wages fall but its employment does not. B) employment and its wages decrease. C) employment decreases but its wages do not. D) employment and its wages are unaffected.
Economics