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.
The clearest illustration of economic inefficiency would be: (w) maintaining a warehouse full of pet rocks within hopes such that someday the fad will return. (x) pet rocks being unavailable to people willing to pay a price that exceeds the marginal s
Elucidate types of unemployment?
Just need help to see if I am in the right direction if there any think wrong need help with it.
Explain the statement: “Facts serve to sort out good and bad hypotheses.”?
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 : Problem related to market circular flows In output markets, the simple circular flow model, households replace their _________ for _________. Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | g
In output markets, the simple circular flow model, households replace their _________ for _________. Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | g
A positive responsibility played through speculators within a market economy is to: (1) find out price levels for entrepreneurs. (2) predict the quantity at that long run equilibrium would be attained. (3) inform government organizations of consumer p
Explain: “Affluence tomorrow requires sacrifice today.”
How Reciprocal Trade Agreements Act had goal of reducing tariffs?
Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below: Discover Q & A Leading Solution Library Avail More Than 1450210 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1940283 Asked 3,689 Active Tutors 1450210 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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