Explain the foundation of economics
Explain the foundation of economics where society’s material wants are unlimited?
Expert
The foundation of economics where society’s material wants are unlimited (the first fundamental fact) are:-
1. Economic wants are desires of people to use goods and services which present utility that means satisfaction.
2. Division is subjective whereas products are sometimes classified as luxuries/necessities.
3. Services satisfy wants as well as goods.
4. Businesses and governments also have wants.
5. Over time, wants change and multiply.
Write down the different types of leverages which are computed for financial analysis?
Question The Current Account captures international fund flows due to net income on (past) investments, net transfers, and i._______________________________, general
Why does a demand curve slope downward?
Elucidate state expenditures and receipts for all states in 1998?
Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?
Illustrate several theories about causation?
Describe unanticipated inflation?
What are the merits of speciality in the use of human and material resources?
What is the most important source of revenue and the major type of expenditure at the local level?
Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge upon tradeoffs which essentially reflect: (i) cooperation to minimize human greed. (ii) opportunity costs. (iii) competitive social behavior. (
18,76,764
1938544 Asked
3,689
Active Tutors
1454528
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!