Economics Significant?

Q: normative economics define and give example

A: Normative economics: - Normative economics is that branch of economics that passes value judgments…

Q: What is important of studying economics? Give two good examples how the knowledge can help you in…

A: No subject of the current day is so significant as the study of economics. economics oversees the…

Q: Explain why economics is so cool

A: Economics is a study of human behavior that helps to understand how individuals satisfy their…

Q: Is economics one of the most important in the world?

A: In a world, various activities, actions, and events took place in which people interact with each…

Q: what is the difference between a positive statement and a normative statement?

A: According to economists, there are two types of activities within an economy. On the one side, there…

Q: Is economics a study of making choices? Explain.

A: Because individuals have limited resources at their disposal, the problem of scarcity requires them…

Q: Define the term economics?

A: The study of economics dates back to early Greek, Mesopotamian, Indian, Chinese and many other…

Q: What is the difference between normative and positive statements?

A: Positive statement: - positive statements are those statements which described the things as it is…

Q: economics explains economic phenomena according to their cause and effects Which economics explains…

A: Normative economies are used to explain real economic events from moral view point. It examines…

Q: What is an Opportunity Cost in economics? Answer by giving an example.

A: Opportunity costs are the cost that represents the potential advantages an individual, investor, or…

Q: WHO IS THE FATHER OF THE MODERN ECONOMICS

A: Economics is the study of social activities in which people interact with each other to make…

Q: Economist Richard Thaler describes economics as the sum of two parts. What are these two parts?

A: Richard H. Thaler is an economist from the United States. Thaler is a researcher who specializes in…

Q: What are three textbooks definition of economics?

A: Economics is a science that studies the efficient production, allocation, and distribution of scarce…

Q: Who is the 'father of economics'?

A: To find : Who is father of economics.

Q: What is the importance of economics on individuals that doesn't have any background on it, and how…

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: True or false? Scarcity in economics could be eliminated but poverty could not.

A: Scarcity is gradually considered as one of the basic or primary problem of the economy, the wants…

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: How can you say that economics is part of today's society?

A: The resources in our economy are limited while the wants are unlimited. This makes the resources…

Q: What are normative economics

A: There are two parts of Economics positive economics and normative economics. Positive economics…

Q: Why Economics is imporant for ordinary people to know who doesn't have any background about it?

A: The wants and desires of the individuals are unlimited. The resources to satisfy these wants are…

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: Differentiate between normative and positive economics ?

A: Positive economics: It is all about the economic issues that were there in the past, are there in…

Q: Importance concepts of economics?

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

Q: Base on your understanding illustrate what is economics

A: Similar, to other social branches of social studies, such as politics, geography, and history,…

Q: Would a good economic model be more likely toaddress a positive statement or a normative statement?…

A: A positive statement is that statement which explains the actual phenomenon of the subject. These…

Q: What’s economics?

A: Microeconomics is the study of specific economic units. An area of economics called macroeconomics…

Q: How does economics affect everyone?

A: Economics is a branch of social science which studies the behavior of the firms, people and the…

Q: A.C. Pigou considered economics as A science of wealth B science of material well-being C science of…

A: Arthur Cecil Pigou considered economics as a study of materialism. He gave the relationship between…

Q: When a person demands something (in economics) they must be , and to buy

A: Demand is one the most crucial factors of any kind of microeconomic analysis, which forms a base for…

Q: What is economics study?

A: Economics study is the study of how limited and scarce resources are employed to produce goods and…

Q: Which is the largest figure in economics?

A: Gross nominal product is the largest figure in the economics.

Q: What is economics about ?

A: The field of economics is mainly divided into two categories microeconomics and macroeconomics. The…

Q: What is economics most concerned with? keeping interest rates low O making money allocating scarce…

A: What is economic most concerned with.

Q: Why must economic theories and models be abstract?

A: Economic theory is based upon the assumption that consumers and investors are rational and also…

Q: Define Economics and its Types?

A: Economics is a branch of economics that examines human behavior with the objective of allocating…

Q: Why is scarcity central to economics?

A: The economics is considered to be a very vast area of study, where there are various entities in…

Q: How relevant is economics in our everyday lives?

A: Economics is very important and useful to study to make it applicable in our daily lives. There are…

Q: What are examples of individual economic agents?

A: Economic agent is a person or an organization who acts as a decision maker that can influence…

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 microeconomics?

A:

Q: What is the interrelationships between economics and law?

A: "ECONOMICS AND LAW ARE INTERRELATED"......it can be explained with the help of following: Economics…

Q: What is economics and its example?

A: The wants and desires of the individuals are unlimited but the resources available to satisfy those…

Q: How does marginality work in economics?

A: when we have two variables say x and y, the change in amount of x caused by one unit change in y is…