Worse off and better off condition in economics changes

When an economic change makes one person worse off and one thousand persons better off, this is: (1) good for society. (2) bad for society. (3) neither bad nor good for society. (4) not possible to assess without a value judgment.

Please choose the right answer from above...I want your suggestion for the same.

View Complete Question

Related Questions in Public Economics

Q : How to recognize economics as a field

recognize economics as a field of economics

Q : Positive declaration in positive

When a mother tells her young child that thunder is caused by the angels bowling up in heaven, scientists would classify her statement as most clearly: (w) a normative statement. (x) a positive statement. (y) microeconomics in place of macroeconomics. (z) scientifical

Q : Define the normative economics in

Hello guys I want your opinion. Please suggest your answer for following Normative-economics problem. Normative economics: (i) based upon value judgments. (ii) involves statements which are either right or wrong. (

Q : Uses of a theory in economic analysis

To be helpful in economic analysis, a theory should produce: (w) Realistic assumptions. (x) A consensus in between scientists. (y) Results which is not possible to disprove. (z) Predictions supported through real world data.

Q : Explain Economics as the extensive

Economics can be explained as the extensive study of the effects of: (w) money and why having this is good. (x) production costs and profits. (y) how people attempt to gratify their boundless needs. (z) purchases, acquisitions and mergers.

Q : Concept of income more to the poor than

The concept about, on average, further income implies more to the poor than to the rich conforms most to the teachings or philosophy of: (1) Thorstein Veblen. (2) Friedrich Nietzsche. (3) Gautama Buddha. (4) Jeremy Bentham. (5) Nostradamus. (6) Adam S

Q : Economic growth and development I have

I have a problem in economics on Economic growth and progress. Please help me in the following question. The Economic growth in a proficient economy will be decreased by: (i) Investment in new capital. (ii) Technological advances. (iii) Expanding the

Q : Determination of opportunity cost of

The opportunity cost of any type of decision is measured through the: (w) market price of career and education opportunities. (x) value of the worst optional choice sacrificed. (y) market price of the resources used in production. (z) value of the best optional choice

Q : Closest to being a free good in

The closest to being a free good of the one given would be: (i) a scholarship for a brilliant but impoverished student. (ii) Free “meals on wheels” programs for the aged and infirm, (iii) a winning lottery ticket you determined on the side

Q : Occurrence of good or service scarce in

A good or service is scarce when people: (w) would benefit from its reduction. (x) wish more than the amounts freely obtainable. (y) cannot enjoy this simultaneously. (z) can freely consume all they want.

Discover Q & A

Leading Solution Library

Avail More Than 1422348 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931546
Asked

3,689

Active Tutors

1422348

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment