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.
Describe two kinds of efficiency Full production imply?
What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?
Elucidate state expenditures and receipts for all states in 1998?
Explain the statement: “Good economic policy requires good economic theory.”?
Adam Smith and the “typical liberal” economists who followed within his footsteps viewed persistent monopolization and market power as: (1) ineffective and best regulated through government. (2) crucial in finding the rate of technological
Briefly describe Financial Leverage? In what manner it is calculated? What does low or high financial leverage signify?
Define the term Market Economy and also state its advantages and disadvantages?
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
When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that
Comparison between EVA and Ratio Analysis: EVA helps in measuring the economic performance of the company. It is the profit earned by the firm less the cost of financing the firm’s capital. It shows that the shareholders gain when the return fro
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