1. How is economics a science? 2. Why do economists make assumptions?

Q: a. in what ways is economics a science and why do economists make?

A: "Since you have asked multiple questions, we will solve first question for you.If you want specific…

Q: normative economics define and give example

A: Normative economics: - Normative economics is that branch of economics that passes value judgments…

Q: Why do economists make assumptions?

A: In economics, the problem of scarcity is addressed by economic agents such as households, firms, and…

Q: Is economics a science? Why, or why not?

A: Economics is related to the production, distribution, and consumption of goods and services.…

Q: Is economics a science?

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Microeconomics concerned with?

A: Microeconomics is the study of individual units of the economy, while macroeconomics is the study of…

Q: Is economics a study of making choices? Explain.

A: Because individuals have limited resources at their disposal, the problem of scarcity requires them…

Q: How is the father of economics

A: Economics is a study of social science which allocates the limited resources to the unlimited wants…

Q: What does mean economics wants. Give Some examples?

A: All wants that can be satisfied by goods or services produced of any kind is knows as economics…

Q: Define economics and the features of the economic perspective.

A: Economics is the social science which studies the production, distribution, and consumption of goods…

Q: How can we say that economics is considered as social science or how economics is defined as social…

A:

Q: 1. Define economics?

A: Economics is divided into two broad categories,  Microeconomics: It refers to the study of…

Q: economics explains economic phenomena according to their cause and effects Which economics explains…

A: Normative economies are used to explain real economic events from moral view point. It examines…

Q: a. People have limited incomes and unlimited wants and desires. How will you define economics in…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Which of the following questions does economics NOT investigate? a. How do individuals deal with…

A: Economics is the social science that study the individual and economic agent behavior in the…

Q: What are the 3 basic questions of economics?

A: The economics as a study is based upon the idea that the economies around the world tend to have a…

Q: What is economics, and how can you benefit from understanding basic economic concepts

A: Economics: Economics matters by investigating how people settle on choices despite the shortage.…

Q: Why Economics is imporant for ordinary people to know who doesn't have any background about it?

A: The wants and desires of the individuals are unlimited. The resources to satisfy these wants are…

Q: 4. Who expressed the view that 'Economics should be neutral between ends'?

A: To find : Who expressed above statement.

Q: What is normative statement, explain with an example?

A: Economics is based on two concepts wherein the theoretical part is divided into positive and…

Q: Can yo help me with easy words. Is economics a science? Why? Definitions of “science” and…

A: Yes economics is a science.It is a social science that studies human behavior related to resources…

Q: Importance concepts of economics?

A: The important concept of economics are Market interest:-  It is one of the essential financial ideas…

Q: In what ways is economics a science and why do economists make assumptions

A: Introduction: An economist is a professional and practitioner in the social science subject of…

Q: Which three key questions do economists try to answer?

A: Economists try to solve various problems existing in the economy.

Q: Describe Economics as a Social Science and as an Applied Economics. What are the different tools…

A: Answer:-  1) Economics as a social Science:- The study of economics is a social science. This…

Q: QUESTION 1 Which of the following is an example of a microeconomic issue? O The government passes…

A: 1. Microeconomics studies the behavior of firms and individuals in making of the decisions regarding…

Q: What are the three diverse exercises of subject of economics?

A: Amartya Sen has given three diverse exercises of subject of economics.

Q: If economics is a positive science, why do economists always disagree

A: Let’s see it with an example, suppose a nation has a high unemployment rate. The government…

Q: In what ways is economics a science and why do economists make assumptions? What is the importance…

A: There are four factors of production which are the economic resources and are as follows:  Land is…

Q: What is economics about ?

A: The field of economics is mainly divided into two categories microeconomics and macroeconomics. The…

Q: n social science, how would the discussion of variables and attributes apply to economics?

A: In social science, an attribute is a feature of an object which is closely associated with variables…

Q: What is the difference between positive and normative economic analysis? Give an example for each.

A: Positive economics focuses on the description(explanation) of the state of economy…

Q: what is the significance of economics. Explain in details.

A: The social science of economics focuses on the creation, exchange, and consumption of commodities…

Q: There are three thing that economist study about, what are they? Explain!

A: Economists, study about the distribution of resources used in production of a commodity, their…

Q: Which type of economics is concerned with the economy as a whole? Select the correct answer below:…

A: Economics concerned with the economy as a whole refer to the economy where we don't talk about the…

Q: a good theory or model nat is an economic theory or model? What constitutes a "good" economic theory…

A: In economics, economic agents have to make rational choices so that the limited resources in the…

Q: Carefully distinguish between economic theory and economic model.  What is the role of value…

A: Economic theory: It is a criteria/study that provides an outlet for research in every area of…

Q: 1) Which of the following is NOT listed in the book as a reason to study economics? A) to learn a…

A: Economics is considered as a social science which study a way the society chooses to use its limited…

Q: a. In what ways is economics a science and why do economists make? b. What is the importance of the…

A: The social science of economics is defined as "the study of the production, distribution, and…

Q: Answer the following questions. 1) What then is the definition of economics? 2) How much of it do…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Is economics a science, an art or both ? Give reasons for the answer

A: Economic is defined as a study which seeks to analyze and describe distribution, production and…

Q: Discuss a theory of economics that you identify with - how is this theory applied in real world…

A: Theory of opportunity cost: In economics, opportunity cost can be understood as the second best…

Q: What is the interrelationships between economics and law?

A: "ECONOMICS AND LAW ARE INTERRELATED"......it can be explained with the help of following: Economics…

Q: A). List the Ten Principles of Economics (just the titles). Group them in three categories: (i). How…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: What is economics and its example?

A: The wants and desires of the individuals are unlimited but the resources available to satisfy those…