1. Think of some new products, or techniques of production, that have been developed over the last few years. What old products did the new products displace? Which companies are leading the development of new technology? 2. Why would the functioning of capitalism tend to result in the equalization of profit rates? What offsetting tendencies are there? What do we know about which tendencies will prevail? 3. What are the three major forms of capitalist competition? Discuss each, making specific reference to their impacts on the determinants of the profit rate. 4. In what ways do larger firms have an advantage over smaller firms in their ability to make profits?
1. Think of some new products, or techniques of production, that have been developed over the last few years. What old products did the new products displace? Which companies are leading the development of new technology? 2. Why would the functioning of capitalism tend to result in the equalization of profit rates? What offsetting tendencies are there? What do we know about which tendencies will prevail? 3. What are the three major forms of capitalist competition? Discuss each, making specific reference to their impacts on the determinants of the profit rate. 4. In what ways do larger firms have an advantage over smaller firms in their ability to make profits?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Think of some new products, or techniques of production, that have been developed over the last few years. What old products did the new products displace? Which companies are leading the development of new technology?
2. Why would the functioning of capitalism tend to result in the equalization of profit rates? What offsetting tendencies are there? What do we know about which tendencies will prevail?
3. What are the three major forms of capitalist competition? Discuss each, making specific reference to their impacts on the determinants of the profit rate.
4. In what ways do larger firms have an advantage over smaller firms in their ability to make profits?
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