--%>
Assignment Help - homework help

Why is wealth definition of economics criticized

Why is wealth definition of economics criticized?

E

Expert

Verified

Wealth definition of economics is criticized due to:

i) Too much emphasis on wealth
ii) Restricted meaning of wealth
iii) Not considering the human feelings
iv) No mention of man’s welfare
v) Silent about economic problem

   Related Questions in Managerial Economics

  • Q : Demand for labor between two points in

    The arc elasticity of Plastibristle’s demand for labor between point a and point b is: (1) 0.375. (2) 0.667. (3) 0.833. (4) 1.200 (5) 2.000.

    Q : Marginal Factor or Resource Costs The

    The words “marginal factor costs” or “marginal resource costs” taken as to the: (w) extra cost involved in producing an additional resource. (x) extra cost involved while producing an additional unit of a resou

    		•
  • Q : Determine the total Revenue from origin

    Refer to figure as sketched below. Why is the total revenue curve a ray from the origin: w) since revenue increases at an increasing rate. x) since revenue increases at a decreasing rate. y) since the firm can sell its product at a constant price. z) since the firm sh

    		•
  • Q : Government and Labor Assume that male

    Assume that male nurses are paid more than female nurses for same work. When an “equal pay for equal work” law is enforced and enacted, it may: (w) decrease the wages of male nurses. (x) not influence the wages of female nurses. (y) increa

    		•
  • Q : Value of the Marginal Product and

    The value to society of the additional output produced by an additional worker is the: (w) marginal resource cost of labor. (x) value of the marginal product of labor. (y) value of the average product of labor. (z) marginal physical product of labor.<

    		•
  • Q : The Income Effect by Supply of Labor

    Along a supply curve for an individual’s labor, there the income effect tends to rise the: (1) supply of work as wages reduce the number of people a firm will hire. (2) demand for leisure as the wage rate and income raise. (3) l

    		•
  • Q : Decrement of supply and demand for a

    When both supply and demand for a good reduce, this is certain that: (w) market price will rise. (x) equilibrium quantity will reduce. (y) quality of the good will decline. (z) level of consumer satisfaction will increase. I need a

    		•
  • Q : Explain the modern definition of

    Explain the modern definition of economics?

    		•
  • Q : Raise in supply and demand and

    When the supply and demand for a good both raise there will be rising within the: (1) market price. (2) equilibrium quantity. (3) quality of the good. (4) profits of a monopoly firm. (5) level of consumer satisfaction. Hello guys I

    		•
  • Q : Illustrates the fixed and variable

    Illustrates the fixed and variable inputs in economics?

    		•