Why is the problem of unemployment a part of the subject
Why is the problem of unemployment a part of the subject matter of economics?
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Economics deals with the “limited resources—unlimited wants” problem. Unemployment represents valuable resources that could have been used to produce more goods and services—to meet more wants and ease the economizing problem.
Explain the foundation of economics where society’s material wants are scarce resources?
Briefly describe the term Cost of debt?
What are the 4 phases of the business cycle?
Briefly state the pros and cons of Corporation?
Illustrations of activities which generate negative externalities would not comprise: (w) burning coal that results in acid rain. (x) smoking a cigar at the opera. (y) killing fish by dumping sewage into a river. (z) being inoculated against a contagi
This is difficult for firms within highly competitive markets to exploit consumers since: (i) consumer advocates organize boycotts that generate bad publicity. (ii) market pressures force fair distributions of products. (iii) the government sets price
Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?
What are the scientific method that Economists use to establish theories, laws, and principles?
For rapid growth of world trade what are the factors of account since the Second World War?
Describe how the demand for a good is influenced by the price of its associated goods. Give illustrations.
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