Bcor 101 Study guides, Class notes & Summaries

the main economic questions (rational economic problem) - Answer-1. What product am I making 2. who is going to make it 3. who gets the product scarcity is either... - Answer-real or articficial hayek - Answer-believed that knowledge is incomplete, prices are the signals, decision making must be decentralized Hayeks view on markets - Answer-markets are a systematic process that allows us to pool knowledge hayek thinks economic problems arise due to ... - Answer-change Hayek thinks scarci...

BCOR 1015 Final Exam Questions With 100% Correct Answers What are Hayeks views on planning and decision making? - answerhe believes in decentralized knowledge HAYEK: what is decentralized knowledge? - answerspreading knowledge amongst people is Hayek against centralization? - answeryes HAYEK: how does the price system coordinate resources? - answerprice signals are used to make decisions and send information to other groups because prices are lower or higher what are price signals? - ans...

WVU BCOR 370 FINAL EXAM 101 QUESTIONS WITH CORRECT ANSWERS 2023/2024 Verified Answers Exam with Correct Answers 2023 Exam ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS ANSWERS ALREADY GRADED A+ Motivation - CORRECT ANSWER-Process by which behavior is: a) Energized - how hard a person works b) Directed - what a person does c) Maintained - how long a person works What are the six steps of the Motivation Process - CORRECT ANSWER-1. Unsatisfied Needs 2. Tension 3. Drives 4. Behav...

BCOR 1015 Final Exam Questions With 100% Correct Answers What are Hayeks views on planning and decision making? - answerhe believes in decentralized knowledge HAYEK: what is decentralized knowledge? - answerspreading knowledge amongst people is Hayek against centralization? - answeryes HAYEK: how does the price system coordinate resources? - answerprice signals are used to make decisions and send information to other groups because prices are lower or higher what are price signals? - ans...

the main economic questions (rational economic problem) 1. What product am I making 2. who is going to make it 3. who gets the product scarcity is either... real or articficial hayek believed that knowledge is incomplete, prices are the signals, decision making must be decentralized Hayeks view on markets markets are a systematic process that allows us to pool knowledge hayek thinks economic problems arise due to ... change

Hayek argues that central planning of the economy: a. Is likely to have long-run benefits for society, even if short-term economic growth is sometimes handicapped. b. May sometimes lead to low economic growth if information is lacking, but also tends to create greater corporate social responsibility. c. Can often be effective, but is most effective when it is delegated to organized industries. d. Is typically less efficient than decentralized decision-making by many individuals. - Answer-I...

BCOR 1015 Final Exam Questions and Answers Verified What are Hayeks views on planning and decision making? he believes in decentralized knowledge HAYEK: what is decentralized knowledge? spreading knowledge amongst people is Hayek against centralization? yes HAYEK: how does the price system coordinate resources? price signals are used to make decisions and send information to other groups because prices are lower or higher what are price signals? signals wrapped up in incentives; pric...

This is a comprehensive and detailed study guide on module 5; competition and monopoly. Quality stuff!! U'll need it!!

BCOR 1015 Final EXAM | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ What are Hayeks views on planning and decision making? - Answer -he believes in decentralized knowledge HAYEK: what is decentralized knowledge? - Answer -spreading knowledge amongst people is Hayek against centralization? - Answer -yes HAYEK: how does the price system coordinate resources? - Answer - price signals are used to make decisions and send information to other groups because prices ar...