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A: The two branches of modern economics are: Normative economics and Positive economics. Positive…
Q: Identify some essential elements common to any rational decision-making process?
A: Rational decision making is a complex process that contains nine essential elements. These are as…
Q: discuss and analyze a current event in economics.
A: Economics is the study of the scarcity of resources and unlimited wants. The unlimited wants can be…
Q: What is an incremental benefit-cost ratio?
A: An incremental benefit-cost ratio is a type of benefit-cost analysis that helps to understand the…
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A: The decision-making process of an individual that leads to maximum level of satisfaction or utility…
Q: Why mainstream economics has intentionally misinterpreted the pioneers of economic theory?
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Q: Microeconomics also known as
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Q: Economic models are BEST described : as a. realistic b. ораqие с. ехact d. simple e. rigorous
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Q: A __________ system is a method of making economic decisions that allows individuals and firms to…
A: In an economy, differ forms of markets are operated under different economic or market system.
Q: Positive statements are: (a) Statements of description that can be tested (b) Statements of…
A: Economists are more likely to be acting as scientists when economists make positive statements.
Q: The models of microeconomics
A: According to the question we need to determine the Models used in Microeconomics.These models are…
Q: Economics as a course is referred to as "Social Science". Is the term used, Social Science, valid?
A: Economics is considered as science, arts as well as social science based on its characteristics and…
Q: Branches of Economics History of Economic Thoughts
A: Branches of Economics Branches of economics are the micro and macro economics, it is the analysis of…
Q: How can studying economics help you as a student?
A: Studying economics can help students by exposing them to theoretical approaches within the field of…
Q: advantages and disadvantages of using positivist methodology in economics
A: Positivists are the group which prefer quantitative ways in research which they believe is more…
Q: Economics..
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Q: Can someone type a paragraph in a document approximately 350-450 words about 'technology and…
A: Technology, in economics, refers to the changes in the production process in the manner which…
Q: Why economics is arts group
A: Economics is a social science as well as art which defines human behavior with the motive of…
Q: If scarcity and misallocation are two different concepts, how can either concept be used to better…
A: Scarcity defines the gap between the limitless wants and the limited resources. This situation can…
Q: How the study of history of economics help people in their daily life
A: Economics is related to many aspects of the world. Various countries in the world are carrying out…
Q: In what ways do human decision making differ from rational conventional economic theory
A: The rational behaviour is a decision-making process in which chgoices are made in order to obtain…
Q: Economic value is a utilitarian concept - do you agree or disagree? briefly explair and justify your…
A: Utilitarianism is a moral philosophy that promotes activities that bring happiness or pleasure while…
Q: advantages and disadvantages of positive economics
A: Positive economics: It means the analysis of objectives in the study of economics.
Q: Types of demand in economics
A: Demand can be categorized into different types on the basis of various factors. For example, factors…
Q: Distinguish between economics and political economy.
A: Economics basically refers to the study of resource allocation in order to meet a society's material…
Q: describe ways in which human decisions making differs from the rational individual conventional…
A: The behavioural economics is the subfield of economics that integrates the insight of psychology…
Q: Examples on how an accountant can be a good economist
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Q: What would be the solution?
A: TFC = TC at 0 level of Output TC = TVC + TFC AVC = TVC/Output
Q: write down about the econmics systems.
A: Economy: It is a system that organizes money, industry, trade of a country or region.
Q: What are Milton Friedman economic theory’s general principles?
A: Answer -
Q: Write down the merits of deductive method of economics? 300 words
A:
Q: Schools of Economic Theory
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Q: What is an Economist
A: The following problem has been answered as follows:
Q: Difference between microeconomics and macraeconomics
A: microecomomics - 1) Microeconomics is the study of economics which is studied from the point of…
Q: Market mechanism in economics
A: When it comes to some private commodities, government intervention in the market process might…
Q: Why is market definition important for economic decision making?
A: Market: Market refers to the place where the buyers and sellers contact each other, and this…
Q: what first sink in your mind when we call applied economics
A: In an economy, the study of economics is further classified into parts such as public economics,…
Q: The author of the text defines economics as the science of efficiency. the study of how humans make…
A:
Q: The President's wife should not run as a candidate to succeed her husband." This is an example of:…
A: There are two types of statements- positive and normative.Positive statement is based on facts and…
Q: True/False A Well tested or widely accepted economic theory is often called an economic principle
A: According to the given question Simply we can say that economic principles are those principles…
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A: If a person's knowledge and abilities are developed in such a way that they finally result in a…
Q: c) is the value of the next best alternative foregone in making a choice
A: Opportunity cost can be defined in simple words as, the letting the other options go for selecting…
Q: Socialization is defined as ________. A. the process of adjusting and adapting to a…
A: The process of internalizing societal norms and ideals is known as socialization.Learning and…
Multiple Definition of economics
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