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.
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
Question 7: You are given the following data about two firms: FIRM A Quantity 0 1 2 3 4 5 6 Total revenue ($) 0 10 20 30 40 50 60 Average revenue ($) ___ ___ ___ ___ ___ ___ ___ Marginal revenue ($) ___ ___ ___ ___ ___ ___ Total cost ($) 30 42 50 60 76 100 14
My friend can't succeed to get the answer of this question. Give me solution of this question. From a heterodox perspective, why does destructive price competition drive enterprises to set up market institutions which would abolish price competition?
Question: The Theory of Purchasing Power Parity says that, in the long run, nominal exchange rates change to offset changes in relative i. _________________________ so that the purchasing power of two currencies st
Illustrate the Comparative advantage and terms of trade?
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
Describe the output effects of Inflation?
Why Trade barriers hurt American consumers?
Can you explain how different government policies with respect to the recycling of aluminum and paper might account for these different market outcomes?
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