History, 04.10.2020 02:01 smithtamarshae
Read the following excerpt from Adam Smith's The Wealth of Nations. How
are his economic philosophies reflected in modern free enterprise systems?
A monopoly granted either to an individual or to a trading company has the
same effect as a secret in trade or manufactures. The monopolists, by
keeping the market constantly understocked, by never fully supplying the
effectual demand, sell their commodities much above the natural price, and
raise their emoluments, whether they consist in wages or profit, greatly above
their natural rate. The price of monopoly is upon every occasion the highest
which can be got. The natural price, or the price of free competition, on the
contrary, is the lowest which can be taken, not upon every occasion, indeed,
but for any considerable time together. The one is upon every occasion the
highest which can be squeezed out of the buyers, or which, it is supposed,
they will consent to give: the other is the lowest which the sellers can
commonly afford to take, and at the same time continue their business. 1
Answers: 3
History, 21.06.2019 16:00, crysderria
If you were outside when a blast occurs where would you go
Answers: 1
History, 21.06.2019 22:30, cheyennebrooke01
What impact did the gi bill and the interstate highway act of 1957 have on the development of the suburbs
Answers: 3
History, 22.06.2019 00:30, sethjohnson386pbnm3x
Which goal was most likely to be supported by both poor peasents and city merchants in the early years of the french revolution? an end to feudal privileges overthrow of the monarchy destruction of the power of the catholic church suppression of the third estate take your time to answer, i'm not in a big rush
Answers: 1
History, 22.06.2019 02:00, lalllda
Determine whether the following descriptions belong to michelangelo, raphael, or both. important works include school of athens was a renowned artist of the italian renaissance served under the patronage of pope leo x important works include the sculpture la pieta
Answers: 2
Read the following excerpt from Adam Smith's The Wealth of Nations. How
are his economic philosophi...
Computers and Technology, 30.01.2020 23:48
Physics, 30.01.2020 23:48
Mathematics, 30.01.2020 23:48