Bcor 1015 final exam Study guides, Class notes & Summaries

BCOR 1015 Final Exam 2023 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;...

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...

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...

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...

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...

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...

BCOR 1015 Final Exam 2023 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;...

BCOR 1015 Final Exam 2023 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;...

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...

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 that the creation of new products and production methods simultaneously destroys the market power of existing monopolies Disruptive Innovation - Answer-a process by which a product or service takes r...