Example of wasted water in inefficiency economics
Why do people usually assume that water run on sidewalks and within the street while they water their lawns? Is that wasted water a symbol of inefficiency?
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The cost of water may be insignificant relative to the value of the time this takes people to shift their hoses around sufficiently which not a drop finds on the street. Therefore, this may be efficient for several people to employ "many more much" water; faithfully hand watering would be inefficient.
Can someone help me in determining the right answer from the given options. Expanding the current investment associative to current consumption most directly raises an economy’s rate of: (1) Stagnation. (2) Capital absorption. (3) Economic growt
The three basic economic questions do NOT include: (w) What?, (x) For whom?, (y) Where? and (z) How? Can someone explain me with about above problem of fundamental economic concept...
Every decision involves opportunity costs due to the fundamental facts which underpin: (i) limits to human reason. (ii) production technology. (iii) limits to human wants. (iv) demand and supply analysis. (v) scarcity. Q : When scientific economic analysis NOT Please help me to solve the problem of Normative Economics that is specified below: Scientific economic analysis could NOT be utilized for test if there: (i) higher tax rates cause tax revenues to decrease. (ii) on
Please help me to solve the problem of Normative Economics that is specified below: Scientific economic analysis could NOT be utilized for test if there: (i) higher tax rates cause tax revenues to decrease. (ii) on
When a typical firm in a perfectly competitive industry is earning profits, in that case: w) all firms will carry on earning profits. x) new firms will enter into the long run causing market supply to reduce, market price to rise and
Please help me to solve the problem of Normative Economic Goals that is given below: Almost everybody in the world would favor a normative economic aim that people all over must have: (i) high standards of living.
Occam’s razor refers to the idea which while evaluating a theory: (1) good theory describes the phenomenon as simply as possible, but not moreso. (2) complexity is obvious to make sure that correct answers are reached. (3) conformity along with
Occam’s razor gives an opinion such that: (w) Algebraic models are more precise than graphs. (x) Simplistic theories deform reality. (y) All economic phenomena are mutually dependent. (z) The simplest workable theories are the most excellent.
Can anybody suggest me the appropriate explanation for given problem regarding normative economics generally. Normative economics is critical while an economist tries to: (i) predict how OPEC's refuse will influenc
I have a problem in economics on Ownership of major non-labor resources. Please help me in the following question. Government ownership of main non-labor resources is the characteristic of: (1) Capitalism. (2) Decentralization. (3) Anarchism. (4) Soci
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