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Economic efficiency needs: (w) distributive, productive and allocative efficiency. (x) engineering and dynamic efficiency. (y) historical and sociological efficiency. (z) chemical and physical efficiency. How can I
The three basic economic questions do NOT include: (w) What?, (x) For whom?, (y) Where? and (z) How? Can someone explain me with about above problem of fundamental economic concept...
Please help me to solve the problem of economics that is given below: The functions of prices do not contain the use of relative prices like: (w) rationing devices. (x) mediums of exchange. (y) inf
Economic policy matters are usually: (w) simply resolved by positive analysis alone. (x) normative, but workable solutions based on positive analysis. (y) either strictly macroeconomic, or strictly microeconomic. (z) better resolved using common sense
Scarcity is a problem for: (w) poor countries merely. (x) individuals only when they are poor. (y) capitalists, but not socialists. (z) all people and countries, rich and poor alike. Can someone explain/help me wit
By using knowledge and/or technology to apply energy to change materials, thereby making the materials more precious is: (w) production. (x) demand. (y) a total cure for scarcity. (z) economically profitable. Can someone clarify/he
The principle which the simplest workable theory is also the fine is termed as: (i) positive analytics. (ii) minimalism. (iii) Occam's razor. (iv) simple-mindedness. (v) hypothesis testing. I need a good answer on the topic of
The argument for infant industries must be protected through competition through established foreign industries was first advanced through: (1) Richard List. (2) Gustav Schmoller. (3) David Ricardo. (4) Alexander Hamilton. (5) Thomas Robert Malthus. (6) early mercanti
I have a problem in economics on Offsetting effects of Economic Growth. Please help me in the following question. Technological advances and resource diminution tend to join and hence a society’s production possibilities curve experiences: (i) R
The necessary criterion for distribution asserts is that: (i) everyone requires a few luxuries to attain psychological balance. (ii) Output must be distributed in proportion to people’s requirements. (iii) Individual requirements will be met bes
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