We Can Predict That Resources Will Move into an Industry

question 105

Multiple Choice

We can predict that resources will move into an industry whenever

• A) economic profits for firms in that industry are greater than zero.
• B) accounting profits for firms in that industry are greater than zero.
• C) economic profits for firms in that industry are zero.
• D) accounting profits for firms in that industry are zero.
• E) economic losses for firms in that industry are minimized.

Apply the Coase theorem to real-world externality problems and private solutions.

Understand the principles of absolute and comparative advantage in trade.

Recognize the importance and implications of the small-economy assumption in trade analysis.

Comprehend the concept of world price and its significance in international trade.

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Definitions:

Social Service Agency

An organization that provides services aimed at improving the well-being of individuals, families, and communities, often focusing on the vulnerable and marginalized.

Group Work Services

Services offered to groups to facilitate their function, improve dynamics, and assist them in achieving their objectives.

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The ongoing process of observing, checking, and analyzing activities or performance to ensure objectives are being met.

Effectiveness Evaluations

The process of assessing how well a program or intervention is achieving its anticipated outcomes.