Which of the following economic systems abolishes all private property?
a. communism
b. socialism
c. fascism
d. All of these.
a. communism
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A bank in Checkland lends a sum of $100 billion to a business firm in Zoroland. Checkland makes a donation of $5 million to a charity in Zoroland. A retail giant in Zoroland opens a new facility in Checkland that is worth $100 billion
Total foreign direct investments in Checkland equal: A) $100 billion. B) $205 billion. C) $200 billion. D) $105 billion.
A perfectly competitive firm in a constant-cost industry produces 3,000 units of a good at a total cost of $36,000. The prevailing market price is $15
What will happen to the number of firms in the industry and to the industry's output in the long run? A) The number of firms remains constant and the industry's output decreases. B) The number of firms and the industry's output increase. C) The number of firms remains constant and the industry's output increases. D) The number of firms and the industry's output decrease.
If firms in monopolistic competition are earning short-run profits,
a. barriers to entry will allow the profits to continue in the long run. b. total supply in the market will decrease in the long run as firms reduce output to keep prices high. c. the entry of new firms will eliminate the profits in the long run. d. each existing firm will experience an increase in its average revenues in the long run.
Which of the following is not a necessary characteristic of a successful price discriminator? a. It has market power. b. It can prevent the resale of the product
c. Its marginal costs of production differ across customers. d. Willingness to pay for its product differs across customers.