market system
Where money is used for exchange in place of goods and services.
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. If they do not like the way one company does...
Explain the economic characteristics of the command
what are the types of market efficiency in nigeria?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
efficiency and freedom
it is major factor in nation's wealth
Explain the economic characteristics of the command
what are the types of market efficiency in nigeria?
Theories explain (or attempt to explain) laws. conceptwhat are the types of market efficiency
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
Capitalism achieves economic growth through a free market. It thrives on competition between companied to keep prices low for consumers and promote better working conditions for employees. The United States is a regulated capitalist economy.
efficiency and freedom
it is major factor in nation's wealth
efficiency.
efficiency
Efficiency
efficiency
A market with a large number of buyers and sellers, such that no single buyer or ... A competitive market achieves efficiency in the allocation of scarce resources if ... any greater satisfaction by producing more of one good and less of another.