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?
Expert
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.
A common approach to economics involves studying how: (i) charging interest on loans can be ethical. (ii) resources are allocated to satisfy human wants. (iii) individuals and government should balance their budgets. (iv) to determine the best bargain
I need a good answer on the topic of Economic problems. Please give me your suggestion that the concept that restricting steel imports will increase employment within the steel industry that is a: (w) normative argument. (x) Positive argument, since the idea can be te
In words of Adam Smith, The Wealth of Nations had given an explanation of work how: (w) dictatorship is more efficient than democracy. (x) economic processes work in a communistic society. (y) real estate investment is a exact path to
The erroneous analysis that economists seldom agree is LEAST attributable to the fact such that economists are: (w) acquire little media coverage while they agree, when disputes about how economic theory must be translated in policy a
Argument by David Hume that: (w) money is a “veil” which hides the actual workings of the economic system. (x) Corn Laws prevented English workers through competition through low-wage foreign workers. (y) capitalism is the system mainly co
Which of the given is a positive technical statement? (i) The Miss America contest is sexist and tasteless. (ii) The moon is made of green cheese. (iii) Microsoft’s record of innovation justifies Bill Gates’ incredible wealth. (iv) Capitalism improves peop
Which would be the closest illustration of a free good: (1) A can of tuna bought along with food stamps, (2) dead leaves which require raking into fall, (3) water through a drinking fountain at a park, (4) a sample of soap acquired in the mail and (5)
How can I solve my economics problems? Please suggest me the right answer for an illustration of a normative statement, would be the assertion which: (w) bald men are intelligent. (x) balding advances along with age. (y) bald men must wear toupees. (z) strength and hi
Particular decision making and how outputs and prices are determined are the mainly focus of: (w) Occam’s razor (x) microeconomic analysis. (y) macroeconomic theory. (z) economic efficiency Hey friends please give your opinio
Within broad economic terms "efficiency" needs: (w) an upward move within the production curve. (x) full employment. (y) it being not possible to make someone better off without creating someone else worse off. (z) producing cars with low gas consumption.
18,76,764
1946706 Asked
3,689
Active Tutors
1437607
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!