Question

1. In the ‘game of Economics’ that is discussed in Unit 1; what is the difference between a rule and a property?

2. How does the profit motive affect the goals of producers?



3. How is a cost-benefit analysis used to make rational decisions? )



4. How does increased productivity lead to lower prices for consumers?


5. How do consumers benefit from e-commerce?

Answer 1

Answer: 38 Externalities: Prices Do Not Capture All. Costs. There are differences between private returns or costs and the costs or returns to society as a whole.

Step-by-step explanation: