--%>

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?

E

Expert

Verified

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.

   Related Questions in Business Economics

  • Q : Explain how an increase in state

    Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.

  • Q : Elucidate redistribution of income

    Elucidate redistribution of income?

  • Q : Regression Your firm is worried about

    Your firm is worried about being sued for gender discrimination. There is a growing perception that males are being paid more than females in your department. Using the data in the SALARY tab in the Excel file provided, please complete the following using a = .05 a). Do the men appear to earn mo

  • Q : What are economic resources What are

    What are economic resources? What are the major functions of the entrepreneur?

  • Q : An Inquiry in the Nature and Causes The

    The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3

  • Q : Next Generation Manufacturing Strategy

    This Assignment assesses the following module Learning Outcomes:1. Describe current production concepts and techniques in formulating a manufacturing strategy.2. Discuss the development and implementation of manufacturing strategies in the busi

  • Q : If resources were unlimited and freely

    Explain this statement:  “If resources were unlimited and freely available, there would be no subject called economics.”

  • Q : Explain Self-interest of the Market

    Explain Self-interest of the Market System?

  • Q : Decentralized a virtue of capitalism

    The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W

  • Q : Use of human and material resources

    What are the merits of speciality in the use of human and material resources?