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.
Question: To determine the real exchange rate, what two pieces of information do you need in addition to the nominal exchange rate? Answer: Q : Define internal rate of return What do What do you understand by the term internal rate of return?
What do you understand by the term internal rate of return?
Illustrate Market Equilibrium of Supply and Demand?
Describe briefly Operating income approach?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value
What divergences arise between equilibrium and an efficient output spillover benefits are present? How might government correct this divergence?
What problem does barter entail?
Illustrate “Other Things Equal” Revisited in Supply and Demand, and Equilibrium?
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
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