________ can predict the Impact of an economic event on economic choices..

Q: xplain the difference between positive and normative economics with example.

A: Positive economics is defined as a stream of economist which focuses on quantification,…

Q: Because of scarcity,a.it is impossible to satisfy every desire and choices must be made.bthe…

A: According to Lionel Robbins, "Economics is the science which studies human behaviour as a…

Q: An efficient outcome in economics is one in which the economy is conserving the largest possible…

A: Economic efficiency means that the state of an economy is such that every resource is optimally…

Q: Consider the first two principles of economics: Choose one of them and state it. Then discuss an…

A: The principle which I have chosen is  "People face trade-offs"  Nothing is free in this world.…

Q: What is the market for bananas an example of? Select one: O a. Micro economics O b. Positivist…

A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…

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: Q) What are some economic opportunities and challenges for an ageing population? Can you show this…

A: A continuous increase in the median age of the population due to increasing life expectancy and…

Q: 1. Define economics?

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

Q: What is Economics, and Why Is It Important? What is Studied in Microeconomics and Macroeconomics?…

A: “Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: 14. What assumption is important in using economic model to make predicitons? a) the law of demand…

A: An economic model is a simple version of reality that allows us to observe, understand and make…

Q: A microeconomic analysis would deal with? a. How the change in the price of gas effects a family…

A: The study of economics can be divided into two branches namely macroeconomics and microeconomics.…

Q: What is the role of Econometrics in Economics or in Agricultural Economics?

A: When studying economics, it can be seen that economics is divided into different parts according to…

Q: Carefully define the following terms and explain their importance to the study of economics. a.…

A: Thank you for the question. As per our Honor code, we are allowed to attempt only first three…

Q: hat is an economic model?

A: Answer is given below

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: s a family decision about how much income to save a microeconomics or macroeconomics topics

A: In economics, we study how scarce resources are used by decision-makers to satisfy the unlimited…

Q: In what sense is economics like a science? • Draw a productionpossibilities frontier for a society…

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

Q: 8. What is economic?

A: We know that economics is divided into two major discipline that is microeconomics and…

Q: “Study of economics starts by acknowledging life’s trade- offs”. Discuss the statement in context of…

A: " The study of Economics starts by acknowledging life's trade offs". This statement can be explained…

Q: 45 "The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type…

A: Consumer price index is the measure to determine the cost of market basket of goods and services.

Q: Because of scarcity,a. it is impossible to satisfy every desire andchoices must be made.b. the…

A: Economics is the study of the behavior of agents and how they interact with each other in the…

Q: Distinguish between macroeconomics and microeconomics citing example (s).

A: The economics as a study is made up of various elements, factors, variables, models, and theories.…

Q: How does school shooting affect Social Economic ? please help

A: Social economics is the branch of economics discipline that is used to determine the link between…

Q: After reviewing major/relevant material in microeconomics, your group has begun brainstorming the…

A: Microeconomics is the branch of economics that deals with economical problems at an individual…

Q: xplain the difference between positive and normative analysis

A: Normative analysis The analysis which is subjective and based on value judgements and assumptions.…

Q: The statement "what's good for General Electric is good for the nation" is an example of: the…

A: Fallacy of composition: - The fallacy of composition is referred to the argument of something being…

Q: Identify the different factors of production. Identify the three (3) central problems of the…

A: Since you have posted multiple questions, we will answer the first three questions for you. If you…

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: Give four examples of normative and positive statements. Explain.

A: Economics is categorized into normative statements or positive statements. Positive statements…

Q: What is core principle in economics

A: While having a fundamental comprehension of financial hypothesis isn't seen as being pretty much as…

Q: A union leader states that: "The government should provide subsidies to unemployed workers…

A: The statement which is subjective and based on value judgements and assumptions. Providing any view,…

Q: Describe the procedure of considering economic decisions?

A: The following procedure should be kept in mind while taking economic decisions: Identify the…

Q: Define trade-off in Economics

A: Trade off is the situational decision of a person in economics, if a person has to increase one…

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: As we know everything hsa and every subject has its laws, Define the laws of Economics?

A:

Q: Which of the following are microeconomicissues? Which are macroeconomic issues?a. How will an…

A: Microeconomics Issues are those which deals with individual units and consumer behaviors. It is…

Q: Exaplain the difference between normative and positive economics. Give examples of normative and…

A: These two are the branch of Economics.

Q: What is the difference between disagreeing abouta positive statement and disagreeing about a…

A: Economics refer to the study of allocation of scarce resources in the most optimal way, when the…

Q: "What is Economics?" Please respond to the following: 1. Identify a recent purchase that you made,…

A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first…

Q: 3. What methodological conAider ation in E com omics will be useful far decision - makKing or policy…

A: In an economy, different methodologies like positive, managerial, normative, welfare and so on are…