What are the three functions of price in a market economy? Prices have three seperate functions: rationing, signalling and incentive functions. These ensure collectively that resources are allocated correctly by co-ordinating the buying and selling decisions in the market. What is the basic role of price? Price is important to marketers because it represents marketers’ […]
Who made the discovery that America was a new continent and not India?
Who made the discovery that America was a new continent and not India? Amerigo Vespucci Who really discovered America Columbus or Vespucci? By 1502, the Florentine merchant and explorer Amerigo Vespucci had figured out that Columbus was wrong, and word of a New World had spread throughout Europe. America was later named for Vespucci. And, […]
What is the difference between fastest route and shortest route?
What is the difference between fastest route and shortest route? Fastest route – the route which takes the least time. Shortest route – the shortest distance between the locations you set. This may not be the quickest route, especially if the shortest route is through a town or city. Are shortest paths unique? Shortest paths […]
What were the 3 most important battles of the Civil War?
What were the 3 most important battles of the Civil War? The United States Civil War, fought between 1861 and 1865, featured many major and minor engagements, and military actions. Among the most significant were the First Battle of Bull Run, the Battle of Shiloh, the Battle of Antietam, the Battle of Gettysburg, and the […]
Why is poverty so bad?
Why is poverty so bad? Poverty is linked with negative conditions such as substandard housing, homelessness, inadequate nutrition and food insecurity, inadequate child care, lack of access to health care, unsafe neighborhoods, and underresourced schools which adversely impact our nation’s children. Why poverty is bad for society? Effects of Poverty on Society. Issues like hunger, […]
What are the psychological theories of crime?
What are the psychological theories of crime? There are four basic aspects of psychological theories of crime, which say that crime is a result of failures in psychological development, learned behaviors of aggression and violence, inherent personality traits, and the relationship of criminality to mental illness. Which theory of crime summary states crime occurs when […]
What was the purpose of the Federalist Papers?
What was the purpose of the Federalist Papers? The Federalist Papers were written and published to urge New Yorkers to ratify the proposed United States Constitution, which was drafted in Philadelphia in the summer of 1787. What are the Federalist Papers and why are they important? The Federalist Papers were a series of eighty-five essays […]
What did Mercy Otis Warren believe?
What did Mercy Otis Warren believe? She supported the Boston Tea Party and boycotts of British imports and urged other women to follow suit. From the outset of the American Revolution, Warren began writing its history, which was published in 1805 as History of the Rise, Progress and Termination of the American Revolution. What influenced […]
What is a market that runs most efficiently when one large firm supplies all of the output referred to as?
What is a market that runs most efficiently when one large firm supplies all of the output referred to as? natural monopoly. a market that runs most efficiently when one large firm supplies all of the output. What kind of market runs most efficiently when one large firm supplies all of the output a natural […]
How are viruses described?
How are viruses described? A virus is a small collection of genetic code, either DNA or RNA, surrounded by a protein coat. A virus cannot replicate alone. Viruses must infect cells and use components of the host cell to make copies of themselves. What are viruses shaped like? Most viruses have icosahedral or helical capsid […]