Discuss the Sixth principle of economics by Mankiw and why it is important to economic activity.

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

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Q: . Discuss the Sixth principle of economics by Mankiw and why it is important to economic activity.

A: The Sixth principle of Economics by Mankiw is as follows :  Markets are usually a good way to…

Q: Differentiate between positive economics and normative economics give atleast four difference

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Q: The ten principles of economics

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Q: Economics is the study of scarcity choice and optimal utilization of resources. Explain?

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Q: CLOI. Define economics and explain its importance to individuals' and firms' success.

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

Q: Production Alternative Types of Production А B E Sandals 10 12 14 16 Boots 50 40 30 20 Draw a…

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Q: 1. What is the fundamental problem of economics? 2. What does scarcity make us do? 3. Define…

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A: Microeconomic: It is the part of economic which deals at the individual level , that is individual…

Q: Explain positive and normative statement with examples for each?

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Q: Which of the following about production possibilities is FALSE?

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

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Q: 1.) The broadest definition of economics is the study of how people make decisions given a.)…

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Q: what is the role of Recourses in individual economy?

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Q: Why is the economic concept of scarcity a crucial onefor businesspeople to understand?

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Q: Which of the following best illustrates the importance of addressing the three questions of…

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Q: xplain the difference between positive and normative analysis

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Q: Explain how scarcity is determined in our economy

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Q: What is core principle in economics

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Q: Describe the procedure of considering economic decisions?

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

A:

Q: 1. Explain the economic problem of scarcity.

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Q: 7. What is scarcity? In market economies, what determines the distribution of scarce goods and…

A: Scarcity is the basis of the essential problem of Economics i.e the distribution of limited means…

Q: Source:…

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Q: Question 1- Analyze the below diagram with three phases of production in Economics? Stage StageT…

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Q: Discuss the nature and importance of economics.

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Q: Discuss a consequence scarcity has on our lives. Ideas that you may want to consider and discuss are…

A: Scarcity refers to the limited availability of resources that have unlimited wants and alternative…

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Q: Who are the forerunners and father of Economics. Explain and discuss their contribution in the field…

A: The greatest economists of the history of mankind or the forerunners of Economics Galileo Galilei…