Write short note Economics
Write short note Economics?
Expert
Economics is the social science concerned with the problem of using scarce resources to attain the greatest fulfillment of society’s unlimited wants. Economics is a science of efficiency in the use of scarce resources. Efficiency requires full employment of available resources and full production.
1. Full employment means all available resources should be employed.
2. Full production means that employed resources are providing maximum satisfaction of our economic wants. If this is not so underemployment arises.
What are the limitations of Circular Flow Model?
surpluses drives price down,shortages drive up
How will the goods and services be produced?
Marrying the one you love involves opportunity costs, mainly since: (i) being married limits your freedom to marry someone else, and you should also consider making someone else happy while making decisions which affect both of you. (ii) two can live
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
What do you understand by the term internal rate of return?
Illustrate the 6 basic supply determinants of other than price?
Evaluate and explain the statements: “The market system is a profit-and-loss economy”
The perfectly competitive market structure benefits consumers since: w) firms do not generate goods at the lowest possible price within the long run. x) firms are forced through competitive pressure to be as efficient as possible. y) firms add a much
What are the benefits and costs of Marginalism?
18,76,764
1953404 Asked
3,689
Active Tutors
1424481
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!