Due to heavy rains the price of ground produce increases. Which core principle is represented in this scenario (if any)

Q: Global warming is likely to increase Question 28 options: the frequency of hurricanes…

A: The greenhouse effect induced by higher amounts of carbon dioxide, CFCs, as well as other pollutants…

Q: demand for restaurant meals

A: With the pandemic in place, many people are less likely to go to the restaurants and sit for a meal.…

Q: Determine the factor that has an impact on the faithful representation. a. Level of measurement of…

A: The term 'Faithful Representation' is usually used in financial records or reporting. Generally,…

Q: A good economic theory ….   Group of answer choices   captures the essence of the economic concepts…

A: The study of economics represents the allocation of scarce resources in such a way that there should…

Q: Which of the following statements describes microeconomics? Group of answer choices The federal…

A: Microeconomics is the study of how individuals and businesses manage scarce resources, and it aids…

Q: People often complain about price gouging after a disaster such as a hurricane. Suppose the…

A: At the time of disaster, most of the crop or other resources get destroyed due to which suppliers…

Q: Suppose the market for coffee is described by the standard market model, with upward-sloping supply…

A: Supply curve is positively sloped and it shows the direct relationship between price and quantity…

Q: For each of the following changes, determine whether there will be a change in quantity supplied or…

A: When there is a change in price of the good, then it brings movement along the demand or supply…

Q: Though it is assumed that people act rationally, in some markets, we have seen volatile prices…

A: Increase in malls would certainly affect traditional markets. Because of increase in malls…

Q: Which one of the following statements is correct?   A. The Bertrand paradox still holds true even…

A: Bertrand's model has 2 firms selling identical goods that have constant marginal costs. Both the…

Q: Scarcity is a condition that exists when there is a fixed supply of resources relative to the demand…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: Behavioral economics is the field of economics that

A: Behavioral Economics is the branch of economics that studies the effects of psychological and social…

Q: Perfect knowledge means that both buyers and sellers are aware of the current market price at any…

A: The statement is True

Q: study shows that eating a clove of garlic a day can help prevent heart disease, causing many…

A: Here, it is given that the study shows the benefit of a clove of garlic a day that it prevents heart…

Q: In general, managerial economics refers to the integration of economic theory with business: (A)…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Behavioral economics and its emphasis on the irrationality of consumers/markets is most closely…

A:

Q: This multiple choice question from MACROECONOMICS course. just write for me the final answer

A: The relation between real GDP, nominal GDP, and the price level is given by; Price level =Nominal…

Q: . If consumers expect the price of some good to rise next week, then we generally observe the price…

A: “Since you have posted a question with multiple parts, we will solve only the first parts for you.…

Q: Correlation between X and Y can only be interpreted as a causal relationship of X and Y if: Select…

A: Correlation means there is a linear  relationship or pattern between the values of two variables.…

Q: In a economic model is to be any good, it must make assumptions that are exact replicas of reality.…

A: here we find the correct answer as given below;

Q: Pearl Market Scenario: You go on vacation for 14 days to an island in the middle of the ocean that…

A: The supply(ss) curve represents the direct relation b/w the price(P) and the qty(Q). This curve will…

Q: Figure 3-3, a shift from A to B seems most consistent with which of the following scenarios? A.…

A: The above graph shows PPC which depicts production of Guns and butter in an economy.

Q: Business economics bridges the gap between abstract theory and business practice." Outline the…

A: Business Economics:- It is crucial to our everyday economic lives and company operations. Every day,…

Q: The following factors could shift up (or to the left) the total Supply Curve of Labor, leading to a…

A:

Q: The following factors could shift up (or to the left) the total Supply Curve of Labor, leading to a…

A: The curve that depicts quantities of goods and services being supplied by producers at various…

Q: Economies of scope refers to the idea that economic value created increases with the amount of the…

A: There are two different economic concepts, economies of scale and economies of scope.

Q: Due to several supply-chain issues the price of computer chips has risen in recent months (this part…

A: The equilibrium price and quantity of a good sold in the market are determined by the forces of…

Q: Which of the following statements are false? Group of answer choices Attention is a limited…

A: The correct answer is given in the second step .

Q: Identify the word, concept, or expression most closely related to the word, concept, or expression…

A: Any change in market condition will influence demand or supply of output due to which equilibrium…

Q: Agricultural economists are frequently accused of spending too little time in the real world. A…

A: The agriculture sector is one of the major sectors of the economy on which the economic growth of…

Q: Profits inspire some of our greates works, even in areas like higher education, the arts and…

A: The  basic assumption in economic theory is that people are rational and they make decisions…

Q: The model of competitive markets relies on the following four core assumptions:

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Economists use the mid-point formula for calculating a percentage change because it yields the same…

A: PED by midpoint method Price elasticity of demand = %age change in QD / %age change in Price Where,…

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: Business economics bridges the gap between abstract theory and business practice. It uses the tools…

A: Managerial economics is a stream of economics that deals with the applicational aspects and theories…

Q: Following assumption is made in continuous review policy a. Demand rate is random b. Demand rate…

A: The answer is - b. Demand rate is fixed Therefore, Demand rate is fixed assumption is made in…

Q: The Law of Demand has implications for consumer welfare because: Response option group (a) As the…

A: The Law of Demand tells us that other things remaining unchanged, there exists an inverse…

Q: Which of the following is not correct?   Select one: a. Economists found that the prices of older…

A: Economist uses different types of economic tools to correct or to find the economic situation of a…

Q: Drag word(sS) below to fill in the blank(s) in the passage. uring the coronavirus pandemic,…

A: An economical model is a theoretical construct that represents an economic process in a simplified…

Q: The scientific method is:         not applicable to economics, because economics deals with human…

A: Scientific methods are those which are universal, which have precision in their measurement. These…

Q: Goods and Services Firms Households Markets for Factors of Production Based on this model,…

A: Here, the given figure explains the circular flow model according to which firms and households have…

Q: Which of the following statements most likely lies within the realm of microeconomics?   Group of…

A: Microeconomics is the part of economics that deals with individual units or a particular firm.

Q: Explain the Six basic assumptions of the traditional neoclassical trade model must be scrutinized

A: Therefore, the six assumptions of the traditional neoclassical trade model are already given in the…

Q: Which of the following is an example of a final good or service? Group of answer choices wheat a…

A: Final goods are goods that are purchased directly by the consumers to satisfy their wants and needs.…

Q: Resources are scarce because which of the following are limited:   Question 10 options:   A)…

A: Economics deals with the allocation of scarce resources among alternative uses to satisfy human…

Q: Which of the following describes features on the equilibrium outcome resulting from a decision. Pick…

A: Nash Equilibrium in decision making refers to the strategies for which there is no incentive to…