advantages and disadvantages of positive economics

Q: Shannon has decided to spend less time on social media because she needs to improve her grades. What…

A: In economics, an opportunity cost represents the potential benefits a consumer, individual or…

Q: Individuals make trade-offs to a. determine economic values b. cooperate with others c. minimize…

A: Trade off is exchanging something of value. It is kind of relationship between two parties who…

Q: Condition that arises because society does not have enough resources to produce all the things…

A: There are mainly three economic problems dealt by each nation. These problems are stated below: a)…

Q: if you want to have anything good you have to do it yourself violates which principle of economics

A: This violates the principle of Economics that says "Trade can make everyone better off". This…

Q: “It is better to pay a regular price than to stand in a long line for a free item.” Discuss the…

A: The term economics is originated from the GREEK word OIKONOMIA meaning the management and study of…

Q: find a current article about any micro economics topic and explain the two sides of the topic using…

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

Q: In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this…

A: Kinds of economic systems regulate economic choices in various nations. They utilize different…

Q: Positive statements are: (a) Statements of description that can be tested (b) Statements of…

A: Economists are more likely to be acting as scientists when economists make positive statements.

Q: Identify the business and economic implications of differences in culture.

A: Cultural differences are the differences in beliefs, culture, language, decisions, and various other…

Q: Branches of Economics History of Economic Thoughts

A: Branches of Economics Branches of economics are the micro and macro economics, it is the analysis of…

Q: Distinguish between positive economics and normative economics

A: Economics is the study of distribution, allocation and production of resources. The economy deals…

Q: Mahatma Gandhi once said “Happiness is when what you think, what you say, and what you do are in…

A: The great aim of life to have is happiness, it is something needed to be worked on every day. Being…

Q: Please give two advantages of a free market economy

A: Free market is the one where government does not make market decisions as the demand and supply of…

Q: Multiple Definition of economics

A: There are several definitions of Economics given over time. We have covered the most important ones…

Q: Economics..

A: The workforce or labour force is a concept referring to the pool of human beings either in…

Q: . What is the benefit of something measured by what you are willing to give up?

A: Measuring the things which are going to be given up will help to compare the decisions, the cost and…

Q: Why economics is arts group

A: Economics is a social science as well as art which defines human behavior with the motive of…

Q: Importance concepts of economics?

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

Q: Explain the advantages of Islamic economics

A: The core concepts of Islamic economics are taken from the Holy Quran, and are backed up by hadith…

Q: A central idea of economics is that by observing changes in ________, we can predict how choices…

A: According to the economists, the choices that individual makes are rational and by rational choices,…

Q: Purposeful behavior means that:        people are selfish in their decision-making.        people…

A: Purposeful behavior means that people weigh costs and benefits to make decisions.

Q: Background information on Economics?

A: The compelling birth of economics as a different discipline might be followed to the year 1776, when…

Q: According to economists, economic self-interest:         is a reality that underlies economic…

A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…

Q: What is scarce in economics

A: Economics is a subject of social science. It is commonly said that economics is the queen of social…

Q: Types of demand in economics

A: Demand can be categorized into different types on the basis of various factors. For example, factors…

Q: how unreflective consumption of goods - in this case, sugar - affect your journey towards the good…

A: How unreflective consumption of goods - in this case, sugar - affect your journey towards the good…

Q: economic problems is a result of( resources are unlimited and wants are limited it is true or false…

A: The measure that depicts the area of production, trade, distribution and consumption of services and…

Q: objectives of decision making units of economics

A: There are 3 decision making units in the economy: Households Firms Government

Q: What would be the solution?

A: TFC = TC at 0 level of Output TC = TVC + TFC AVC = TVC/Output

Q: Describe the Rational Decision making Process?

A: Rational decision-making is a multi-stage process in which alternatives are selected. The objective…

Q: someone can enjoy the benefits of the good without bearing the costs.

A: Option D  That is someone can enjoy benefits of the good without bearing the costs  Free rider…

Q: a paragraph in the initial response in their own words, using microeconomic terminology.

A: Microeconomics is a branch of economics that studies the behaviour of individual economic units such…

Q: Schools of Economic Theory

A: Introduction: Economic theory is predicated on the notion that investors and consumers are rational…

Q: Economics is the study of how a society manages its resources to

A:

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

A: According to the given question The events which can be initially measured in the terms of money or…

Q: Moral background of natural economics?

A: Economics studies the way a society chooses to use its limited resources, which have alternate uses,…

Q: The study of economics is best defined as how

A: Human wants are unlimited and means to satisfy these wants are scarce and limited. People face trade…

Q: Find a movie that has some sort of economic principle(s) in a particular scene. Give a brief…

A: Economic concepts can be challenging for a student to imagine and comprehend while just faced with…

Q: Market mechanism in economics

A: When it comes to some private commodities, government intervention in the market process might…

Q: what first sink in your mind when we call applied economics

A: In an economy, the study of economics is further classified into parts such as public economics,…

Q: True/False A Well tested or widely accepted economic theory is often called an economic principle

A: According to the given question Simply we can say that economic principles are those principles…

Q: Advantages of market economy

A: A market economy  in which the forces of supply and demand generate price signals that drive…

Q: Socialization is defined as ________. A. the process of adjusting and adapting to a…

A: The process of internalizing societal norms and ideals is known as socialization.Learning and…