Do you think that the pure market economy in these circumstance of COVID 19 play an effective role in economy? Give four evidences from your point of view.

Q: A mixed economy is a combination of a __________ and _____________. a. microeconomics and command b.…

A: A mixed economy system is a system that integrates both capitalism and socialism. A mixed economic…

Q: What are the things that we can learned from Adam Smith's Wealth of Nation that related to modern…

A: Adam Smith is known as father of economics who gives a lot of theories related to economics which…

Q: The following table contains statements that provide some analysis of policies that address breast…

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

Q: Discuss the circular flow diagram based on your own understanding and give an example where you…

A: Circular flow: The circular flow of income and expenditure explains the process that determines…

Q: The economic term equality describes a situation in which -society is getting the maximum benefits…

A: Income equality: Income equality is a situation of equal income distribution for households and…

Q: clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity…

A: Intra and intertemporal choice models Intertemporal choice is a phrase used in economics to describe…

Q: Marx says ““it is not the consciousness of men that determines their being, but, on the contrary,…

A: Marx says ““it is not the consciousness of men that determines their being, but, on the contrary,…

Q: Normative and positive statements

A: Positive and normative analysis are two branches of economics. Positive analysis focuses  on “what…

Q: are the poorest members of society the greatest beneficiaries in the Difference principle of John…

A: The poorest members of society are not usually the most significant winners under the Difference…

Q: Richard Thaler provides three criticisms of the homo economicus model in his book “Missbehaving”.…

A: With the first salvo of wit that will characterise the entire book, Richard Thaler claims that…

Q: 1. Brunhilde earns $50 per hour in the paid labor market, and can produce 50 units worth of home…

A: As Brunhilde has two essential requirements for her marriage: she wants to spend some of her time…

Q: Using a production possibility frontier, an arbitrary price line that does not equate supply and…

A: Production Possibility Frontier is the locus of points of production combination which an economy…

Q: Statement I: The Economic Entity theory holds that people have unlimited wants but limited…

A: The concept of Scarcity is discussed in given statements where we have to make choices because of…

Q: An economic system is an ongoing process whereby people exchange material goods and personal…

A: In an economy, an economic system refers to the ideology or an approach to run the market in an…

Q: How are in-kind transfers best described?   Question 36 options:   They are obtained only by those…

A: When talking about in-kind transfers it refers to the exchange of goods or services among people,…

Q: which one of two would be more profitable economic model or the socio eonomic model of social…

A: Socioeconomic model: Social-monetary model" alludes to the citizenry's abilities to appreciate…

Q: Determine if the following statement is normative or positive: Households that participate in SNAP…

A: SNAP: SNAP advances long-haul wellbeing and prosperity, particularly for kids. Research shows that…

Q: he study of economics was known by what name from its earliest inception?     political science…

A: Economics refers to the branch of knowledge related with the production, consumption, and transfer…

Q: Determine if the following statement is normative or positive: Households that participate in SNAP…

A: Positive Economic: The positive economic deals with the issues or things as they exist. It studies…

Q: Classify the following as microeconomics or macroeconomics and provide a justification for your…

A: Microeconomics deals with an individual(personal, industrial or organizational) economic problem and…

Q: Discuss the concept of homoeconomus with adequate examples. How does it help create an equilibrium…

A: The subject that includes the discussion about the allocation of scarce resources among all the…

Q: According to the welfare theory covered in the unit, which of the following statements is true? a.…

A: When talking about welfare theory, there are two theorems to understand the contribution of…

Q: Match each definition to its appropriate concept. Definition Equality Efficiency When a society gets…

A: Equality implies that those benefits are distributed uniformly among the members of society...…

Q: Economists describe a choice as: Group of answer choices A. a tradeoff B. human C. limited resource…

A: Resources are limited in every economy but the wants of humans are unlimited and never ending. To…

Q: Consider three ways of helping poor people to buy food, clothing, and shelter. The first way is to…

A: Pareto Efficiency is the condition which states that allocation of resources cannot be done with…

Q: What is the difference between an economu based on individualism and an economy based on…

A: Economy based on individualism :-  The basic feature of the economy is that it provides freedom to…

Q: Consider two towns with 4 million individuals each. The figure below shows the initial locational…

A: The situation in which the prices of different places are in relation to the satisfaction that one…

Q: Conflict theory: contends the social institutions and practices persist because powerful groups have…

A: 1)Technological change With increase in technology,more employees demand would be created.Therefore…

Q: On the basis of your observations, which factors of production are scarce in your community? Give…

A: 1. Capital is scarce in my community. I have observed that major goods that are produced in my…

Q: nent and disagreement among economists Suppose that Tim, an economist from a business school in…

A: The branch of economics that studies the decision-making behavior of institutions and individuals as…

Q: In a market economy, decisions are guided by individual self-interest. What impact does this have?…

A: A market economy is an economic system in which supply and demand determine how goods and services…

Q: What do you understand by the concepts of intra and inter temporal choice models in Managerial…

A: We know that.,Intèrtemporal  a choices refers  to decisions, such as spending habits, thàt are made…

Q: Consider mainstream and alternative approach of studying economics: Both share the idea that a.…

A: Economics: It is the study of allocating resources for making choices.

Q: What is a pooling equilibrium? A separating equilibrium? A semi-separating equilibrium? How are…

A: Pooling equilibrium is an equilibrium in which the different characteristic agents tend to choose…

Q: How does economic freedom (people have choices on how to spend their money), private property (you…

A: Capitalist economy is a type of free market where every party consumer, producer acts freely in…

Q: How Bergson-Samuelson Social Welfare Function used in a model that considers a society's desire for…

A: let we have show that as per,According to Samuelson theory, the public good is given to the consumer…

Q: Do you think that the pure market economy in these circumstance of COVID 19 play an effective role…

A: The Covid-19 is a new type of pandemic disease which was originated in the province of Wuhan in the…

Q: Determine whether each of the following topics would more likely to be studied in microeconomics or…

A: Definitions: Microeconomics: Microeconomics is a branch of economics that deals with consumer…

Q: Microeconomics 2 - Factor Market - Pareto Optimum Consider an economy in which only 2 factors are…

A: On the supply side of the economy, we look at two different markets: the factor market, and the…

Q: 19. One research is being conducted about how gold prices change due to the changing preferences of…

A: Economics is a branch of social science that studies how different agents in a social construct…

Q: Discuss the distinction and similarities between partial and general equilibrium analysis.

A: Equilibrium is the situation where demand and supply which are two main important market forces that…

Q: Pareto optimality refers to the maximum efficient allocation of economic resources such that there…

A: Pareto optimality:- The state of Pareto optimality occurs when inputs in a organization are…

Q: The branch of economics that is concerned with the study of individual economic unit is known as

A: According to its definition, economics is a social science that examines the issue of product…