What are the scientific method that Economists use
What are the scientific method that Economists use to establish theories, laws, and principles?
Expert
The scientific method that Economists use to establish theories, laws, and principles are:
a. The observation of facts (real data).
b. The formulations of explanations of cause and effect relationships (hypotheses) based upon the facts.
c. The testing of the hypotheses.
d. The acceptance, reject, or modification of the hypotheses.
Illustrate the term Economic Rationale?
Within the Wealth of Nations, argument by Adam Smith such that a nation’s true wealth is its capability to: (1) obtain stocks of financial capital. (2) inspire its people’s courage and diligence. (c) give
What will be produced in all economic systems?
What are the major provisions of GATT
Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below: Q : Explain the behavior of the workers Use Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Q X= 600- 6PX + 20I +0.4PY c. Suppose PX increases by 10%, by what percentage would sales decrease? Explain how this price increase affect total revenues from good X.
identify the reasons for the formation of organizations
Briefly describe Net income approach? Named who recommended this theory?
How important is international trade to the U.S. economy? In terms of volume, does the United States trade more with industrially advanced economies or with developing economies? What country is the United States’ most important trading partner, quantitati
18,76,764
1941622 Asked
3,689
Active Tutors
1447383
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!