Write short note Economics
Write short note Economics?
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Economics is the social science concerned with the problem of using scarce resources to attain the greatest fulfillment of society’s unlimited wants. Economics is a science of efficiency in the use of scarce resources. Efficiency requires full employment of available resources and full production.
1. Full employment means all available resources should be employed.
2. Full production means that employed resources are providing maximum satisfaction of our economic wants. If this is not so underemployment arises.
Use the circular flow model to confirm this assertion for a 2% reduction in the Federal corporate income tax.
Explain the markets and prices of the Market System?
Explain the foundation of economics where society’s material wants are unlimited?
Explain the demand for bagels rises dramatically while the demand for breakfast cereal falls?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
Why is the problem of unemployment a part of the subject matter of economics?
The competitive market system is least probable to be allocatively unproductive as a result of: (w) externalities and public goods. (x) cutthroat competition and the outsourcing of low-wage jobs to less grown countries. (y) the underproduction of a go
The new supply and demand curves within University City were S0 and D0, before the county commission imposed a $3 per six-pack excise tax upon beer. The new equilibrium quantities of six-packs sold per month and equilibrium prices, respectively,
How important is international trade to the U.S. economy? In terms of volume, does the United States trade more with industrially advanced economies or with developing economies? What country is the United States’ most important trading partner, quantitati
Why private goods are produced through the market?
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