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.
Adam Smith wrote his Wealth of Nations within part like a refutation of the doctrines: (1) classical liberalism. (2) utilitarianism. (3) mercantilism. (4) physiocracy. (5) laissez faire capitalism.
Describe the types of multiplant firms?
Describe the Functional distribution of income?
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
Of the given options, the economist whose theories pivoted least upon the distribution of income and wealth (class conflict) in a capitalist system would have been: (1) Adam Smith. (2) David Ricardo. (3) Karl Marx. (4
What is the difference between qualitative data and quantitative data, provide an example of each.
The price of KnickKnacks is $1 and the price of WigWags has increased with $2 to $3. Therefore: (w) absolute price of KnickKnacks has decreased and the relative price of WigWags has increased. (x) relative and absolute prices of KnickKnacks have
Illustrate the complex cases when both supply and demand shift?
Define cyclical fluctuations?
How can we evaluate cost of capital?
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