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Why law of diminishing returns and return to scale might use in understanding the output decisions of firms in different industries?
Wiki User
∙ 16y ago
show with example that if the marginal product is always decreasing the average product is always above the marginal product?
Wiki User
∙ 16y ago
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Examples of economic choices you have to make?
different people make different economic decisions
Do some international trade theories work better than others for different industries?
yes some international trade theories work very well than other for different industries
Why is it good to have a diversified economy?
It is good for the entire state that different kinds of industries were growing. This kind of diversification makes the state economy stronger. With many industries and many different products, the state can still prosper, even if there is a drop in the demand for one product.
What are New Yorks major industries?
Major industries in New York include information technology, stock trading and other finance related industries, and health care. There are also different types of manufacturing in New York, such as clothes.
What types of biases arise in the different approaches to understanding consumer demand and behavior?
Cultural
Identify the different types of industries?
Industries are divided into two broad categories. (i) primary industries. (ii) secondary industries.
Why is an understanding of development crucial to policy formulation?
An understanding of development is crucial to policy formulation because it helps policymakers identify the needs, challenges, and priorities of different groups in society. By understanding how development affects different aspects of society, policymakers can design more effective and targeted policies to address inequalities, promote sustainable growth, and improve overall well-being. Additionally, an understanding of development enables policymakers to anticipate potential impacts of policies on different groups and make informed decisions to ensure positive outcomes.
Different conditions under which decisions are made?
the conditions that decisions are made
Win to another point of view?
Looking at situations from another perspective can provide valuable insights and understanding. It helps broaden our understanding, challenge assumptions, and develop empathy towards others. By considering different viewpoints, we can make more informed decisions and build stronger relationships.
What does it mean by diverse industries?
Diverse industries are ones that are very different to each other.
What are the different industry?
the different kinds of industries are primary, secondary and tertiary
What does enligtenment mean?
Enlightenment means to come to understanding. it has different meaning to different people but it generally refers to perfect understanding.
What are Holland's major industries?
many different things
Why is culture a barrier between Israelis and Palestinians?
They have different religious values, a different regard for what education should be, a different understanding of what human rights are, a different understanding of what history is, a different understanding of the worth of human life, different languages, different economic systems, different foods, and a different societal organization. Aside from these trifles, their cultures are very similar.
Aristotle speculated that knowing the different types of government was what to understanding?
Aristotle speculated that knowing the different types of government was critical to understanding politics.
How do you Define allied industries?
An allied industry: Different industries that work together in some way, usually by providing goods or a service to other industries or being dependant on another industry (receiving goods or a service).
