Economics of Enterprise Answers

By its nature, brewing beer is a water-intensive process. Making more beer, but using less water, is one of SABMiller’s three global focus areas. The transformation of water and other ingredients, by SAB, into beer and other alcoholic beverages is known as ______ . 

a. exchange 

b. consumerism 

c. economic principle 

d. production

Normal vs inferior goods

A.  A strike stops all public transportation in a large city.

he price of running shoes is above the equilibrium price, there will be an excess supply of running shoes.

 The 1990 cost for an installed 304 stainless steel tank weighing 135,000 kg was $1,100,000. The installed cost weight exponent for stainless steel tanks is 0.88 for a size range from 100,000 to 300,000 kg. What weight of installed stainless steel tank could have been obtained for the same capital investment as in Prob. 6-3?

Due to substantial increases in prices in Country A, the real income level of the population in Country A decreases. Show on a diagram how the decrease in the income level in Country A will affect the demand for meat, which is a normal good.

Given that more multi-national firms are preparing to leave Greece and expand their businesses to Asia. Explain why reducing the unemployment benefits cannot reduce the unemployment rate in Greece. Suggest one policy the Greece government can do to reduce the immediate unemployment rate.

4. Assume that a household has access to credit. Which of the following is likely to have a significant effect on long-run consumption?

The voluntary compliance of businesses with practices that are sustainable is known as ___________________.

After an alien invasion, Earth has to resort to the extreme protection of its resources in order to survive. A global government is elected with the mandate to control all the resources, which remain to humanity. The global government serves as a centrally directed economic system and has assumed complete responsibility for producing and distributing products and services. Which one of the following best describes the main economic system used in this new world order?