demand forecasting
consumer's interview method for demand forecasting(point to point explain)
Suppositions underpinning simple production possibilities frontier models don’t comprise a need that: (i) Net resources are fixed. (ii) All resources are efficiently employed. (iii) Technology is steady. (iv) Resource owners are paid according t
Evaluate and explain the statements: “Competition is the essential despot of the market economy”.
Adam Smith’s perception which self-interested motives underpin even charitable activities through apparently selfless people appeared originally into his primary major book that was entitled: (1) Theory of Moral Sentiments [1755]. (2) Leviathan
Describe four important areas to emphasize Expenditures?
Distinguish between a change in demand and a change in the quantity demanded?
Adam Smith wrote his Wealth of Nations within part like a refutation of the doctrines: (1) classical liberalism. (2) utilitarianism. (3) mercantilism. (4) physiocracy. (5) laissez faire capitalism.
The major implication of Adam Smith’s conception of an “invisible hand” was such that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most
Explain the foundation of economics where society’s material wants are scarce resources?
Describe two kinds of efficiency Full production imply?
Elucidate how Personal income tax is a major source?
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