examples of personal decisions (could range from small matters to big life-changing decisions) in which you think you have applied some economic way of thinking.

Q: What are the benefits of considering the economic decisions?

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: positive or normative.

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

Q: Economics recommendation of climate change to cost of food production

A: The existing food system (production, transportation, processing, packing, storage, retail,…

Q: True or False: Money must be issued by a government for people to accept it.

A: ANS Money can be anything that is used as a common medium of exchange irrespective of it is issued…

Q: you must make decision for one choice, could you discuss what economic principles or concepts that…

A: Consumers' preferences of goods and services are at the heart of economics. Market forces decide the…

Q: The opportunity cost of an action is a) the money that you pay take it b)the Value of the best…

A: ‘Opportunity cost’ is what one must give up to get something. Simply speaking ‘Opportunity cost’ is…

Q: Economics helps managers focus on key issues.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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: Rational decision making requires that

A: Rational decision making requires what :

Q: what are the examples of every college student in their decision (could range from small matters to…

A: College students consist of those populations whose main objective is to learn and improve skills…

Q: Use economics to explain why people smoke even though they know smoking is not good to their health?

A: Utility is a term referring to the overall satisfaction obtained from consuming a good or service.

Q: are needs that we learn during our lifetime. Multiple Choice Ethics Ideals Desires Wants Values

A: Individuals tend to have certain needs and want in order to live a life they tend to desire or wish…

Q: Which quote best represents a person performing a cost-benefit analysis?

A: Since you have posted multiple questions, we will answer the first question for you. If you want any…

Q: Apply decision making process/model to your decision to attend college

A: The decision making process is a day by day business activity for any individual or company.…

Q: How to perform a cost benefit analysis?

A: There are some costs and benefits associated with each economic activity. Thus, a cost-benefit…

Q: How can we simplify the decision-making process?

A: A business cannot take the decision making process lightly as the entire business relies and acts on…

Q: What type of economy is best?

A: There are mainly four types of economic systems: Traditional economic system, command economic…

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: Write a positive statement and a normative statement about your favorite hobby.

A: Positive statements are those statements in which we can answer with 'yes' or 'no' replies, whereas,…

Q: Economics How does research provide you with the knowledge and skills you need to solve management…

A: Research is the quest for knowledge, it provides the solutions for an inquiry that is strategically…

Q: Question: List three freshwater and three saltwater macroeconomics schools. You do not need to…

A: Three freshwater macroeconomics schools 1. Cornell university

Q: Scarce economic resources and unlimited wants causes

A: In the economy there are scarce economic resources and that means there are limited resources and…

Q: (Opportunity Cost) You can spend spring break either working at home for $80 per day for five days…

A: When it comes to evaluating a company's capital structure, opportunity cost analysis is vital. In…

Q: List 1-3 things that you learned about basic economic concepts.

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: the influence of companies on our consumption habits and business models based on consuming more and…

A: Each and every business has the profit maximizing and revenue Maximising objective .  And they…

Q: Does activism or social movements create a positive result? why or why not?

A: Social activism is effective even when it is done online, this is even more effective than offline…

Q: Although fiction isn't claiming to be True,it reveals truths about our world or the way (some)…

A: Fiction means that is related to somehow thought that may or may not be related to reality.

Q: What is the purpose of cost–benefit analysis?

A: A cost-benefit analysis is a method used to assess decisions by companies. The analyst or…

Q: resources that cannot be regenerated in nature, such as oil, minerals, etc.

A: A non-renewable resource is a characteristic asset that can't be promptly supplanted by common…

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: Identify a recent purchase that you made, recently, and determine how scarcity influenced your…

A: Scarcity refers to the finite existence of a resource, or commodity. Humans need a number of goods…

Q: What would be the solution?

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

Q: aking Effective Decisions ften illustrated with a graph or a table, shows the results under…

A: the opportunity cost of a specific action choice is the deficiency of significant worth or advantage…

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: What Is Cost-Effectiveness Measures?

A: Cost(C) is an important component of production. The ‘cost of production’ refers to the total…

Q: Political values are important because individuals often use values to Select an answer and submit.…

A: A political belief suggests how politics should work. The political culture explains how citizens…

Q: what insights or learning you have gotten from the  topic "Imitationism" (Idealism by Plato).

A: According to him art is an imitation of life and idea is the ultimate reality. He states that art…

Q: Have new technologies helped you in any significant way, and if so, how? On balance, do you see new…

A: Both my academic and professional lives have benefited greatly from new technologies. My viewpoint…

Q: c. to raise the standard of living for everyone in the country d. to allow consumers and producers…

A: Most countries began to abandon the concept of a free-market economy after the Great Depression.…

Q: my friend lives in an apartment building. The neighbour smokes, and my friend can smell it. It…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: Recall an issue or situation indicating that production is relevant to making everyone better off.…

A: When a product is put into the manufacturing process, costs occur and various factors of production…

Q: means that the products people demand are being produced at a low cost(making the most of…

A: In economics, the problem of scarcity is addressed by economic agents. As the human wants are…

Q: Give one merit and one demerit of a socialist economy?

A: A socialist economy is the one in which all the considered legal production and decisions related to…

Q: The opportunity cost to you of an action is A. how much you must pay for the opportunity to take the…

A: The opportunity cost can be defined as the cost of one option when another option is choosen.

Q: Advantages of market economy

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