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Which of the following would embody entrepreneurship as it is defined by an economist? (Points : 1) A doctor A professor The owner of a dry-cleaning business A coal miner
Weegy: The owner of a dry-cleaning business User: If the demand for coffee decreases as income decreases, coffee is a(n): (Points : 1) normal good. inferior good. substitute good. complementary good. Weegy: inferior good (More)
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Asked 8/4/2013 10:50:37 AM
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Explain the difference between a positive and negative externality. In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your examples?
Weegy: Answer: The difference between a positive and negative externality: When to people make a transaction of some sort (buy/sell, [ etc.) there is usually an effect on a third person - that is an externality. An externality is positive when the effect is good. If your neighbor re-builds the fence between your two properties entirely at his cost that is positive. An externality is negative when the effect is bad. If that same neighbor started his own thrash metal band and practiced in his backyard at 3am that is bad for you. ] (More)
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Asked 8/7/2013 5:08:04 AM
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Why does the government need to get involved with externalities to bring about market efficiency?
Weegy: An externality is when the actions of one have an impact upon a third party. And it can be a positive or negative impact. In other words, the actions may help or they night hurt. [ Now if government decides to intervene, it is to encourage the behavior if it's a good thing or to discourage the behavior in the case of a bad thing. In other words, if the externality has a positive impact, the government will want to encourage that positive to continue happening. But if the externality is negative, the government will take action that will prevent this behavior from continuing and hurting even more. ] (More)
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Asked 8/7/2013 8:13:55 PM
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Weegy Stuff
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