Illustrate normative statement
In economics illustrate normative statement?
Expert
The term normative statement in economics is just like a normative statement in any other academic subject. We can say it is a statement about something with an implicit value judgment or moral claim.
It is differ from a descriptive statement i.e. supposed to be ideologically or value neutral.
What do you mean by the term privatization?
The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship. Q : Estimating national income by Describe precautions to be taken in estimating national income by expenditure technique? Answer: The following precautions are to be taken while evaluating N.I. by
Describe precautions to be taken in estimating national income by expenditure technique? Answer: The following precautions are to be taken while evaluating N.I. by
When this firm initially had important market power along with potential long-run economic profit, a likely cause of the firm finally being in a stable equilibrium of an $18 price and output of 5,000 units every day would be: (1
In short run, the supply of Pinot Noir from the viewpoints of oenophiles who fancy it would be influenced least by: (i) The offspring of late baby boomers arriving the legal age to buy alcohol. (ii) Imposition of a maximum tax for each and every bottle of wine generat
When Rose Garden Wholesalers has a typical type cost structure of rose farms within this purely competitive industry, into the long run new competitors would most likely enter the market providing the wholesale price
For normal goods which experience price changes, then the income effect: (i) Recognizes how higher money income influences demands for goods. (ii) Invalidates the diminishing marginal utility law. (iii) Offsets the substitution effect. (iv) Reinforces the substitution
Determine the relationship among APC and APS? Answer: APC + APS = 1.
One of my friend has a problem on substitution effect. The original equilibrium point (that is utility-maximizing bundle) in the graph shown below is at point A. The price of good Y is increased, pivoting the budget constraint down to its latest level.a. F
Most of the U.S. capital investment is traceable to the financial investments by households, that is one way that private individuals: (i) Turn into capitalists. (ii) Save. (iii) Evade taxes. (iv) Avoid the circular flow of resources and income. Discover Q & A Leading Solution Library Avail More Than 1460855 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1932464 Asked 3,689 Active Tutors 1460855 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1932464 Asked
3,689
Active Tutors
1460855
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!