If resources were unlimited and freely available
Explain this statement: “If resources were unlimited and freely available, there would be no subject called economics.”
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If resources were unlimited and freely available, making choices would not be necessary. Every person could have as much as they wanted of any good or service. Science of choice should be unnecessary in Economics.
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
Explain the Trade pattern of U.S. and World Trade?
“An increase in the American dollar price of the South Korean won implies that the South Korean won has depreciated in value.” Explain.
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3
The cornerstone of typical economic theory derived through the work of Jeremy Bentham was the perception of (i) the wages fund. (ii) natural checks on population. (iii) increasing cost. (iv) utility. (v) surplus value. Q : Introduction of the term Cost of Give a brief introduction of the term Cost of preference shares?
Give a brief introduction of the term Cost of preference shares?
Economic efficiency for society needs which the: (i) opportunity costs of all goods be at their lowest possible values. (ii) maximum probable benefits are acquired for given costs. (iii) greatest possible net benefits are squeezed through available re
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Describe the term: “Only to be part with it we want money”?
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