If resources were unlimited and freely available
Explain this statement: “If resources were unlimited and freely available, there would be no subject called economics.”
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If resources were unlimited and freely available, making choices would not be necessary. Every person could have as much as they wanted of any good or service. Science of choice should be unnecessary in Economics.
Explain the statements: The market system not only accepts self-interest as a fact of human existence.
Illustrate the supply curve and also determinants of supply?
Question Would "Victory Points" be a measure of player's "GDP"? If not, then how would you calculate a player's GDP?
Distinguish between a change in demand and a change in the quantity demanded?
Conception of the “Invisible Hand” by Adam Smith relies on mechanisms like those as underpin: (1) William Stanley Jevons’ “sunspot” theory of business cycles. (2) the biological concept of Homeostasis. (3
Transaction costs to ultimate consumers are reduced if: (w) consumers travel long distances to buy directly from manufacturers quite than buying the goods at local retail stores. (x) intermediaries generate income while conveying goods from manufactur
One early involvement of Adam Smith to the theory of gains by international trade, although later thoroughly revised and refined through David Ricardo, was the conception of: (1) mercantilism. (2) absolute advantage. (3) comparative a
Give a brief introduction of the term Cost of equity shares?
Why producers not be able to find enough paying buyers for “public goods”?
What is the most important source of revenue and the major type of expenditure at the Federal level?
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