Explain the definition of Economics
Explain the definition of Economics?
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a. The social science concerned with the efficient use of limited or scarce resources to achieve maximum satisfaction of human materials wants.
b. Human wants are unlimited, but the means to satisfy the wants are limited.
When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I
Quantity TR TC 0 $0.00 $10.00 1 $150.00 $30.00 2 $290.00 $50.00 3 $420.00 $80.00 4 $540.00 $120.00 5 $650.00 $170.00 6 $750.00 $230.00 7 $840.00 $300.00 8 $920.00 $
Explain Self-interest of the Market System?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
Assume that melons sell for $5 in Brazil when moose pelts sell for $10, still into Canada melons sell for $10 as well as moose pelts sell for $5. A person who buys moose pelts within Canada to sell into Brazil would be doing: (1) speculation. (2) the “invisible
Explain the foundation of economics where society’s material wants are Resource payments correspond to resource categories?
Explain how government might manipulate its expenditures and tax revenues to reduce rate of inflation?
Please help me to solve the problem of economic that is given below: Economists describe economic costs as like: (w) money outlays. (x) accounting cost. (y) opportunity cost. (z) v
Not between concepts explained in Adam Smith’s Wealth of Nations was the conception which net benefits occur from: (1) specialization and trade according to comparative advantage. (2) the division of labor in production processes. (3) reliance o
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
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