--%>
Assignment Help - homework help

Wealth definition of economics

Who is the father of economics and what is wealth definition of economics?

E

Expert

Verified

Adam Smith is known as father of economics and he gave wealth definition of economics. The study of the nature and cause of national wealth is economics. He said economics is the study of wealth that involves how wealth is produced and distributed.

   Related Questions in Managerial Economics

  • Q : Illustrates the real concept briefly

    Illustrates the real concept briefly?

    		•
  • Q : Concept of marginal costing In what

    In what condition the concept of marginal costing basically applied?

    		•
  • Q : Additional wage-elastic of demand A

    A firm’s demand for labor tends to be additional wage-elastic while: (1) the price elasticity of demand for output is greater. (2) substituting capital for labor is harder. (3) unskilled workers join unions. (4) labor costs are

    		•
  • Q : Shifting of market for productivity

    When the U.S. soybean market is primarily in equilibrium on S0D0, and in that case a new fertilizer raises farm productivity and concurrently, foreigners are permitted greater access to U.S. soybean, there the market shifts to: (

    		•
  • Q : Costs and revenue verses Quality

    Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs

    		•
  • Q : States the term Production States the

    States the term Production?

    		•
  • Q : General Training in Human Capital The

    The knowledge regarding local shrubs and trees which Morgan learns whereas working as an apprentice landscaper into the suburbs of a huge city is an illustration of the benefits from: (1) dirty work. (2) general training. (3) dues-paying. (4) high-skilled employment.

    		•
  • Q : Estimate demand The Real Kool Toys

    The Real Kool Toys Company manufactures and sells educational toys. An empirical demand function for one of the firm's products has been estimated over the last 21 quarters using regression analysis. The estimated demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000)

    		•
  • Q : Demand for labor in purely competitive

    When the hourly wage rate for workers this purely competitive firm hires is approximately of $13, this will operate at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point e.

    Q : Explain the Price Elasticity of Demand

    Explain the Price Elasticity of Demand.

    		•