Explain the definition of Economics
Explain the definition of Economics?
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a. The social science concerned with the efficient use of limited or scarce resources to achieve maximum satisfaction of human materials wants.
b. Human wants are unlimited, but the means to satisfy the wants are limited.
Illustrate Professional and personal applications?
Elucidate the changing rates of Appreciation and Depreciation?
Suppose that, based on a nation’s production possibilities curve, for 10,000 pizzas domestically an economy must sacrifice to get the one additional industrial robot it desires, but can get that robot from another country in exchange for 9,000 pizzas. To the fol
Write down the internal factors which influencing the capital structure?
Not between concepts explained in Adam Smith’s Wealth of Nations was the conception which net benefits occur from: (1) specialization and trade according to comparative advantage. (2) the division of labor in production processes. (3) reliance o
Production Possibility Curve: Similar to the individuals, a society as entire has restricted resources. It has to decide what to manufacture with restricted resource
Evaluate and explain the statements: “The market system is a profit-and-loss economy”
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
Building blocks for a capitalist system consist of: (1) supplies and demands. (2) private property rights. (3) laissez-faire policies. (4) market-determined outputs and prices. (5) All of the above. Please guys hel
Describe the equation of a linear relationship?
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