Influence of economic good in consumption

An economic good is everything for that: (w) increased consumption increases people's satisfaction. (x) entrepreneurship, land, labor and capital are needed. (y) an economic bad is its physical opposite. (z) producers obtain profits in place of losses.

Please guys help to solve this problem of economics with some explanation.

View Complete Question

Related Questions in Public Economics

Q : Incentives to create and to use goods

Please help me to solve the problem of prices which is given below: Information regarding incentives to create and to use goods efficiently is imbedded most directly within: (i) Relative prices. (ii) Normative econ

Q : Problem of Economic Policies and

Hello guys I want your opinion. Please recommend your view for given Economic Policies and Normative Economics problems. Disagreements in between economists about economic policies most commonly occur from differences within their:

Q : Illustration of a positive scientific

An illustration of a positive scientific statement would be which college graduates who: (i) create higher incomes than high school drop outs deserve that higher income. (ii) charge victims of hurricanes as well as other natural disasters outrageous prices must be sho

Q : Why is a wristwatch a model of the

A wristwatch is a model of the passage of time since it gives a: (w) simple representation of a complex process. (x) good illustration of modern technology. (y) way to coordinate human activity. (z) unique statement of one's personality.

Q : Opinion of the razor of Occam Occam’s

Occam’s razor gives an opinion such that: (w) Algebraic models are more precise than graphs. (x) Simplistic theories deform reality. (y) All economic phenomena are mutually dependent. (z) The simplest workable theories are the most excellent.

Q : Condition to being a free good Which of

Which of the given probably comes closest to make a free good: (1) Unexpected warmth through the sun within Chicago in January. (2) A hot school lunch given for a needy student. (3) A microwave pizza bought along with food stamps. (4) Income earned th

Q : With whom is Economists LEAST concerned

Economists are LEAST related along with the: (w) gains and losses from changes in government policies. (x) adjustments people make when tax structures change. (y) causes of inflation and unemployment. (z) ethics of political campaigning.

Q : Existence of shortages or surpluses

Shortages or surpluses exist while: (w) transaction costs are zero. (x) quantity supplied be different from quantity demanded. (y) monopolists enjoy exorbitant profits. (z) supply prices equivalent demand prices. H

Q : Savings as big investment The Economic

The Economic growth in a proficient economy will tend to increase when: (1) Capital quickly depreciates and becomes obsolete. (2) Threats of war divert resources to the national defense. (3) People’s savings increase to permit bigger investment. (4) Funds for re

Q : Occurrence of good or service scarce in

A good or service is scarce when people: (w) would benefit from its reduction. (x) wish more than the amounts freely obtainable. (y) cannot enjoy this simultaneously. (z) can freely consume all they want.

Discover Q & A

Leading Solution Library

Avail More Than 1417872 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1961077
Asked

3,689

Active Tutors

1417872

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment