Economics like a social science
Why is economics seen like a social science?
Expert
Beginning with a definition:
The social sciences are a collection of academic disciplines which study human aspects of the world they diverge from the arts and humanities in that the social sciences tend to emphasize the use of the scientific method in the study of humanity, including quantitative as well as qualitative methods.
Economics is clearly a human phenomenon. Even though some topics such as game theory in economics are used in the natural sciences, mathematics and economics remains a study of purely human phenomenon.
The marginal resource cost for the monopsonist in labor market which can’t discriminate the wage: (1) Is perfectly inelastic. (2) Lies beneath the market supply of labor. (3) Lies above market supply of the labor. (4) Is perfectly elastic.
Normative statements would contain assertions such that: (1) harsh prison terms and capital punishment reduce rates of violent crime. (2) on average, Americans are more prosperous while no single political party controls the presidency that the US Sen
If increases in market demand cause resource prices to raise, that resulting in higher average as well as marginal costs, an industry is: (i) experiencing diseconomies of scale. (ii) unprofitable in the long run. (iii) probably a natu
When interest rates rise, in that case the opportunity costs of: (1) current consumption rise. (2) future consumption rise. (3) current investment decline. (4) government budget deficits decline. (5) saving grows proportionally.
Provide the solution of this question. The problem of asymmetric information is that: A) neither health care buyers nor providers are well-informed. B) health care providers are well-informed, but buyers are not. C) the outcomes of many complex medical procedures cann
Can someone help me in finding out the right answer from the given options. Assume that sales of generic beds are highly competitive and Deluxe Beds is just significant employer in Nowhere, Nevada. When deluxe workers unionize and
Even though the concentration ratio for an oligopoly is close to hundred, firms may operate rather efficiently when the market: (1) price conforms to a limit pricing model. (2) is contestable since entry and exit are easy. (3) demand curve is unitaril
Normal 0 false false
The Sole proprietorships and partnerships account for the ________ percent of all U.S. firms and a _________ percent of sales by the U.S. firms: (1) Large; small. (2) Large; large. (3) Small; small. (4) Small; large. Find out the r
Can someone help me in finding out the right answer from the given options. When the average production costs rise as the total production of a firm rises, the firm is experiencing: (1) economies of scale. (2) Economies of scope. (3) Diseconomies of scope. (4) Disecon
18,76,764
1947515 Asked
3,689
Active Tutors
1453643
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!