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[Show more]According to Cohen, there are two types of reciprocity. Which type does he see as less desirable because 
it emphasizes doing things for other people because you need or want some service from them? 
a. Market reciprocity 
b. Economic reciprocity 
c. Social reciprocity 
d. Communal reciprocity - Ans...
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Add to cartAccording to Cohen, there are two types of reciprocity. Which type does he see as less desirable because 
it emphasizes doing things for other people because you need or want some service from them? 
a. Market reciprocity 
b. Economic reciprocity 
c. Social reciprocity 
d. Communal reciprocity - Ans...
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 responsibi...
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Add to cartHayek 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 responsibi...
Which regulations can be employed on just price? - Answer-price floors, ceilings, minimum wage, living 
wage 
Who came up with just price theory? - Answer-Thomas Aquinas 
What type of economy does Vance think creates just prices? - Answer-Laissez Faire 
Creative Destruction - Answer-the hypothesis t...
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Add to cartWhich regulations can be employed on just price? - Answer-price floors, ceilings, minimum wage, living 
wage 
Who came up with just price theory? - Answer-Thomas Aquinas 
What type of economy does Vance think creates just prices? - Answer-Laissez Faire 
Creative Destruction - Answer-the hypothesis t...
business - Answer-any profit-seeking organization that provides goods and services designed to satisfy 
customers' needs 
revenue - Answer-money a company brings in through the sale of goods and services 
business model - Answer-a concise description of how a business intends to generate revenue 
p...
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Add to cartbusiness - Answer-any profit-seeking organization that provides goods and services designed to satisfy 
customers' needs 
revenue - Answer-money a company brings in through the sale of goods and services 
business model - Answer-a concise description of how a business intends to generate revenue 
p...
Hayek's argument - Answer-He asserts that a centrally planned economy could never match the 
efficiency of the open market because what is known by a single agent is only a small fraction of the sum 
total of knowledge held by all members of society. 
A decentralized economy thus complements the di...
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Add to cartHayek's argument - Answer-He asserts that a centrally planned economy could never match the 
efficiency of the open market because what is known by a single agent is only a small fraction of the sum 
total of knowledge held by all members of society. 
A decentralized economy thus complements the di...
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...
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Add to cartthe 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...
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...
Preview 2 out of 6 pages
Add to cartWhat 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...
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