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What role does the government play in determining some prices?
Markets usually tend toward equilibrium, but in some cases, the government can jump in to control prices. The government can enforce a price ceiling, or a maximum price that can be charged for a good. Or they can form a price floor, or a minimum price that can be charged for a good or service.
What is the most difficult part of your role in the business?
Deciding who to fire, and hire!
How much does an iphone 3g cost?
Depending on who, where, and in what condition are you buying the phone. All these factors play an important role in deciding the price. It can range anywhere from 5 dollars to 800 dollars.
What are some opportunity costs of greater government role in the economy?
greater role were costly to implement, cutting into profits, slowing growth, and force businesses to charge unnecessary high price
What are some opportunity costs of a greater government role in the economy?
greater role were costly to implement, cutting into profits, slowing growth, and force businesses to charge unnecessary high price
What is the role of prices in the free market?
Prices in a free market are a measure of scarcity and desirability. Something that is scarce and desirable - gold, for example - will have a high price. Something that is common but still desirable - bread or beef - will have a lower price. As the scarcity or desirability of an item increases, the price will increase.
What is the role of government in Trinidad and tobago?
what is the role of government in trinidad
What was the main role of the government?
The role of government is to protect the people.
What is the role of Trinidad and tobago government?
what is the role of government in trinidad
What is a rigmarole?
the word role oin rigmarole is a play on roll which is a type of bread#
What are the main features of a market economy?
actually there are 6 main features of market economies : * private property * freedom of choice and enterprise * self interest as the dominating motive * competition * a reliance on the price system * a very little role for government ( negligible role for government )
What are examples of Government?
dependent and subordinate
