Entrepreneurship
What will be an ideal response?
Mechanisms that allow something of value to be exchanged between parties
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More than half of the labor force in developing countries is devoted to agriculture, and about 3/4 of output in these countries comes from agriculture
Indicate whether the statement is true or false
The small city of Pleasantville is considering building a public swimming pool that costs $1,000. Each resident's marginal benefit of the swimming pool is shown below. It takes a 4/5 majority to pass any tax measure, and all residents must vote.VoterMarginal BenefitKyle$420Dylan$360Fran$350Ronnie$190Sam$170 Building the swimming pool would ________ total economic surplus because ________.
A. decrease; taxes would have to be collected to build the pool B. increase; the cost of building the pool can be passed to users from other towns C. increase; the total social benefit of the pool is greater than the total cost of the pool D. decrease; the total cost of the pool is greater than the total social benefit of the pool
The first step in gradualism is
a. the privatization of larger industrial sectors b. the phasing out of money-losing enterprises c. large industrial enterprises quickly finding market-clearing prices d. the thriving of small-scale capitalism e. state-owned enterprises running more like businesses to maximize profit
Which of the following is considered a determinant of long-run economic growth?
a. Increase in the interest rates b. Changing expectations c. Increase in the money supply d. Growth in productive resources e. Reduction in government spending