--%>
Assignment Help - homework help

Rationally optimal decisions hinge on tradeoffs

Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge on tradeoffs which essentially reflect as: (1) using cooperative allocative mechanisms to minimize inequity. (2) opportunity costs. (3) competitive social behavior. (4) optimally balancing surpluses and shortages. (5) maximizing individual decision makers’ self interests.

Can anybody advise me the proper explanation for given problem regarding Economics scarcity generally?

   Related Questions in Public Economics

  • Q : When scientific economic analysis NOT

    Please help me to solve the problem of Normative Economics that is specified below: Scientific economic analysis could NOT be utilized for test if there: (i) higher tax rates cause tax revenues to decrease. (ii) on

    		•
  • Q : Entry-exit of competitive firms in long

    When a typical firm in a perfectly competitive industry is earning profits, in that case: w) all firms will carry on earning profits. x) new firms will enter into the long run causing market supply to reduce, market price to rise and

    		•
  • Q : Uses of a theory in economic analysis

    To be helpful in economic analysis, a theory should produce: (w) Realistic assumptions. (x) A consensus in between scientists. (y) Results which is not possible to disprove. (z) Predictions supported through real world data.

    Q : Modern sociobiologists concept

    Modern sociobiologists concept perpetuation of individual gene pool like the fundamental human drive, and give numerous illustrations of behavior which apparently conflict along with the economist's homo economicus supposition: Parents sacrifice their whole lives for

    		•
  • Q : When is Scarcity a problem become

    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

    		•
  • Q : Dealing of technical efficiency in

    Technical efficiency deals along with problems of: (w) Maximizing the value of production. (x) Curing inequity. (y) Concentrating wealth more totally. (z) Redistribution from rich to poor. Can anybody suggest me the proper explanat

    		•
  • Q : The closest illustration of a free good

    Which would be the closest illustration of a free good: (1) A can of tuna bought along with food stamps, (2) dead leaves which require raking into fall, (3) water through a drinking fountain at a park, (4) a sample of soap acquired in the mail and (5)

    		•
  • Q : Problem of Slavery and Normative

    Please guys help me to solve the problem of Slavery and Normative Economics that is given below: Slavery like a mechanism for allocating labor previous to the Civil War eventually proved to be in conflict along wit

    		•
  • Q : Gains from trade and economic consensus

    While considering current events and matters, economists and the common public seem to disagree relatively the most about: (i) what to do regarding the War in Iraq. (ii) whether Democrats or Republicans must win the next election. (iii) the relative costs and advantag

    		•
  • Q : Allocative mechanisms of Economic

    Economic systems (example: capitalism versus socialism) are mainly distinguished by their relative reliance on alternative allocative mechanisms, and particularly by: (1) Who builds major economic decisions and who owns non-human resources. (ii) The level of inequalit

    		•