Why is the problem of unemployment a part of the subject
Why is the problem of unemployment a part of the subject matter of economics?
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Economics deals with the “limited resources—unlimited wants” problem. Unemployment represents valuable resources that could have been used to produce more goods and services—to meet more wants and ease the economizing problem.
In Wealth of Nations by Adam Smith, opined that the productivity of labor based primarily on: (w) workers’ education. (x) divisions of labor. (y) technologically advanced machines. (z) suitable wage rates. Q : Explain the cause of Trade barriers Explain the cause of Trade barriers?
Explain the cause of Trade barriers?
Explain the volume and pattern of U.S. and World Trade?
Illustrate Scarcity and choice of Economic Perspective?
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
Illustrate how Microeconomics looks at specific economic units?
What was rightward shift of PPC point out? Answer: It points out growth of the resources.
Use the circular flow model to confirm this assertion for an expansion of preschool programs for disadvantaged children?
Describe briefly Operating income approach?
The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W
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