When a ticket is given to a pedestrian for jaywalking, what type of incentive exists? Select one: a. a complementary incentive b. a neutral incentive c. a positive incentive d. a negative incentive
Q: Choose one of the seven principles of economics that apply to microeconomics. Choose a specific…
A: The seven principles of economics are Scarcity forces tradeoffs Thinking at margin Cost vs benefits…
Q: How are you influenced by the media as a consumer and content-maker? You may base your examples on…
A: When a particular product is manufactured, cost takes place for producing that particular good and…
Q: What role does the profit motive play in a market economy?
A: Profits are the factor payment to an organization. Profits are important for a business to run. If…
Q: What type of economists believe that markets naturally self-correct, and will reward good strategies…
A: Laissez fair economics theory advocates non-government intervention in the economic activity. They…
Q: Which of the following statements about positive incentives is the most accurate? They create…
A: Positive incentives get provided to promote certain choices by impacting individuals positively.
Q: Which of the following statements about negative incentives is the most accurate? They increase…
A: Which of the following statements about negative incentives is the most accurate.
Q: Is economics related to marketing?
A: In a market economic activities refers to the primary activities of a business or a household when…
Q: Give an example of some action that has both a monetary and nonmonetary opportunity cost.
A: Opportunity cost is a central principle of economics, which means people face tradeoffs in life. And…
Q: The opportunity cost of an action is a) the money that you pay take it b)the Value of the best…
A: ‘Opportunity cost’ is what one must give up to get something. Simply speaking ‘Opportunity cost’ is…
Q: In economics, cost is and benefit is a. the amount of money that you pay for something; the amount…
A: Economists are eager in finding out how the resources are allocated or how optimization of resources…
Q: Class, if I give you a “free” ticket to the Opera House downtown, would you necessarily go? How can…
A: Opportunity cost is the value of next best alternative, that is benefit that could have been derived…
Q: lemon market case and hold up What is agent theory?
A: The lemon market is the situation that arises where the sellers of the good have more and between…
Q: 2013 the UK government introduced a Help to Buy scheme that was aimed at helping people to get on…
A: (A) Consequence of Help to Buy scheme (HtB) The HtB strategy is intended to work as an unwinding of…
Q: nomists build models that abstract from the complexities of reality primarily because.. a. They…
A: Models in economics use data based analysis to estimate relationships between various economic…
Q: Which of the core principles (1) Scarcity, Choice and Opportunity Cost, 2) Cost-benefit, 3)…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Early studies in the 1960s found that students who ate a hot breakfast before they came to class…
A: A) positive position exists if the gathering and utilization of a good or administration benefit an…
Q: What are transaction costs? How does opportunistic behavior tend to increase transaction cost?
A: Cost: It refers to the goods and services price that is charged by the producer. The more the cost…
Q: In 2013 the UK government introduced a Help to Buy scheme that was aimed at helping people to get on…
A: When compared to buying a property on the open market, Help to Buy makes climbing on the housing…
Q: Give three examples of important trade-offs that you fqcevin your life
A: A trade-off is a tactical decision that entails sacrificing or losing one feature of a set or design…
Q: Why do economic agents always respond to incentives
A: Why do economic agents always respond to incentives? Answer: Positive incentives are those rewards…
Q: In capitalist economy, does it project a fair price for the consumer?
A: There are various types of economy . Capitalist economy, socialist economy and mixed economy . Where…
Q: What type of cost arises from making decisions? a. opportunity b. total с. fixed d. marginal e.…
A: In economics, decision making is the process which includes the decision of a rational individual in…
Q: Timothy receive $100 on his birthday. He wants to buy either a new skate board or a new mp3 player…
A: In a market, action and decision of the market participants belongs to some of the core economic…
Q: Which of the core principles (1) Scarcity, Choice and Opportunity Cost, 2) Cost-benefit, 3)…
A: a) This statement represents the core principle of scarcity, choice and opportunity cost. The…
Q: The concept of opportunity cost is based on the principle of need. demand. consumption. O scarcity.
A: Economics is defined as the social sciences that study how an economy manages its limited resources…
Q: The international terror campaign being waged by Al Qaeda has an underlying economic motive. T or F?
A: Terrorism is defined as the use of violence and fear to achieve an ideological goal in its broadest…
Q: This week, both Microsoft and Apple unveiled their latest earnings, and the once unthinkable became…
A: Economics is the study of scarcity of resources with unlimited wants and desires which agents are…
Q: Explain:a. Before economic growth, there were too few goods; after growth, there is too little…
A: a. Economic growth is the improvement in the production capacity in an economy. That means there…
Q: Which of the following statements is NOT correct? Select one: a. Economics is a behavioral science.…
A: Ethical economics is primarily concerned with the limitations of the economics of economic agents.…
Q: Describe the field of economics known as microeconomics.What is the cost-benefit principle?
A: Microeconomics is a branch of economics that analyses the effects of incentives and decisions on…
Q: An important trade-off you’re recently faced Describe an incentive your parents offered to you in an…
A: Economics is all about tradeoffs. A tradeoff is loosely defined as any situation where making one…
Q: Write the definition of the Benefit-Cost Ratio?
A: The benefit- cost ratio is used in cost benefit analysis and to summarize the complete relationship…
Q: Scarcity Implies? a. there isn't an opportunity cost b. there will be shortages. c. there will be…
A: In Economics, scarcity implies the limited availability of resources. It refers to the gap between…
Q: What is the best explanation of opportunity cost in economics. Explain with example.
A: Opportunity cost The cost of choosing one option/things over another is known as opportunity…
Q: a) Describe an important trade-off you recently faced. b) Define opportunity cost and give an…
A: a. Trade off refers to the situation where some amount of goods should be given up in order to gain…
Q: How can opportunity cost affect behavior?
A: The opportunity cost of any activity is the benefit from the next best alternative foregone to…
Q: For some couples, the solution for too much pandemic togetherness is saying good night on…
A: In 1940's demand for mattress were more in the market and later on the demand beds started to come…
Q: Incentives matter. Which of the below situations that find DOES NOT indicate a strong positive…
A: Incentives can be defined as anything that motivates a person to do something.
Q: What is a good way to calculate opportunity cost?
A: Opportunity costs is the next best alternative. It is what you give up when you choose one from the…
Q: In economics the cost of doing somethin is a) the value of the next best opportunity not taken b)…
A: The costs(C) faced by economists include accounting-cost, explicit-cost, implicit-cost,…
Q: Find a movie that has some sort of economic principle(s) in a particular scene. Give a brief…
A: Economic concepts can be challenging for a student to imagine and comprehend while just faced with…
Q: How does economics play a role in decision-making at Asian Paints?
A: The corporation can make the best business decisions by analyzing economic aspects.
Q: The government places health-risk warnings on cigarette and liquor packages. These warnings serve as…
A: The government places health risk warnings on goods that have harmful effects on health. These…
Q: Explain the economic concept of incentives.
A: Economic incentive: Economic incentives are what persuades you to carry on with a particular goal in…
Q: The opportunity cost to you of an action is A. how much you must pay for the opportunity to take the…
A: The opportunity cost can be defined as the cost of one option when another option is choosen.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Which of the following is an example of an incentive? A. Purchases from a store earn the buyer rewards such as discounts on future purchases. B. Heavy taxes on unhealthy foods. C. Government campaign to get people to exercise D. Selling someone a product that you made.A key principle of economics is that people respond to incentives. An incentive... Could be a penalty but could not be a reward. Could be either a reward or a penalty. Could be a reward but could not be a penalty. Is the opposite of a tradeoff.Define market value. How do you differentiate it fromintrinsic value?
- A. How much is the net profit using the first method? B. Which Method is better?I think my answer is right. Can you please answe this for me if it's not and explain why? Thank you!Economists suggest that due to incentive effects, a more equally shared pie will usually be A. apple. B. equally tasty. C. more efficient. D. smaller. E. larger.
- choose the corrrect answer: Question: This specifies that an action that could benefit more people and more subject should be achieved for the certain scenario. A. Common Good B. Greater/Greatest GoodGive three examples of important trade-offs that you fqcevin your lifeWhat do we mean by Incentive? Example…
- A rational decision-maker takes an action only if the Select one: a. marginal benefit is less than the marginal cost O b. marginal benefit is greater than both the average cost and the marginal cost C. average benefit is greater than the average cost d. marginal benefit is greater than the marginal costWhat Is Cost-Effectiveness Measures?Read the following passage that describes why some consumers clip coupons while others don't. Then answer the question that follows. THE ECONOMIC RATIONALE BEHIND COUPON CLIPPING, BY THE APLIA ECONOMICS CONTENT TEAM If coupon clipping is so rewarding, why doesn't everyone do it? According to basic economic theory, the number one reason is that coupon clipping isn't actually free. Sure, it doesn't explicitly cost you money out of your pocket, but it does cost you time to scan newspapers, magazines, and the Internet for savings that sometimes seem insignificant. Economists refer to this as the opportunity cost of clipping coupons. For example, an hour spent clipping coupons means an hour less to spend earning income, enjoying leisure time, or sleeping. For those who have fewer high-value alternatives competing for their time, such as stay-at-home parents or retired senior citizens, coupon clipping may be time well spent. According to the Wall Street Journal (Source: "Doing the Math on…
