Significant that economics is not a laboratory science
Why is it significant that economics is not a laboratory science? What problems may be evolved in deriving and applying economic principles?
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Because the world of reality is cluttered with innumerable interrelated facts, researchers must be highly selective in gathering information. They must determine which facts are relevant to the problem under consideration. But even when this sorting process is complete, the relevant information may at first seem random and unrelated.
The economist seeks principles—generalizations about the way individuals and institutions behave. Deriving principles is called theoretical economics or economic analysis. The role of economic theorizing or economic analysis is to systematically arrange facts, interpret them, and generalize from them.
Give a brief introduction of the term Timing Principle?
Explain the impact of external costs and external benefits on resource allocation
Elucidate: Competition and the “Invisible Hand”?
Who are the major players in international trade today? Besides Japan, what other Asian nations play significant roles in international trade?
Describe the Slope of a nonlinear curve?
Give a brief introduction of the term Financial Leverage?
While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value
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Cingular and Alltel involve in aggressive and expensive advertising for cell-phones. A reason for this advertising may be: (1) attempts to increase market share. (2) predatorily drive other firms by the market. (3) to increase the use of cell phones.
Write down the theories of capital structure?
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