explain each.You can use an examp

Q: describe an important of trade-off you recently faced. Give an example of some action that has both…

A: Trade off refers to the situation where some amount of goods should be given up in order to gain…

Q: 1. The article poses the question: "So why do farmers put up with the hassle?"  And then answers it:…

A: In the production process, the conditions and fluctuations that happen between demand and also the…

Q: Your Econ. Professor bought airline tickets to leave a conference early on Saturday morning. He…

A: He brought the airline ticket to leave a conference early on Saturday morning. But when he found…

Q: Which of the limitations listed below best explain why scarcity occurs? Select the correct answer…

A: The inequitable distribution of resources is one of the fundamental causes of scarcity. There are…

Q: Attempts Average / 1 1. Understanding opportunity cost You work as an assistant coach on the…

A: Earnings per hour as a coach=$13 Carnival admission fees=$9 Attending the carnival includes two…

Q: Describe 3 ways in which human decision differs from the rational individual conventional economic…

A: The behavioural economics is the subfield of economics that integrates the insight of psychology…

Q: From where concept of economic planning is derived?

A: Economic Planning is the process in which the limited natural resources are used skillfully so as to…

Q: Question text It always rains about an hour after you finish washing your car. Concluding that…

A: Option a: Cetreis paribus condition means keeping things constant. Hence, Incorrect   Option b:…

Q: Identify keywords from a given economics word. 1. ECONOMICS 2. ECONOMICS as SOCIAL SCIENCE

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

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

A: The economy has unlimited desires but the resources to satisfy this unlimited desires are limited.…

Q: Multiple Definition of economics

A: There are several definitions of Economics given over time. We have covered the most important ones…

Q: Apply core economic principle in business decision making

A: Core economic principles in economics are the one that sets the fundamental truth about the subject…

Q: "Most of the literature on Islamic economics dealing with consumer behavior at microeconomic level…

A: The consumer behavior is the vital economic theory that deals with the consumption pattern and…

Q: Can someone type a paragraph in a document approximately 350-450 words about 'technology and…

A: Technology, in economics, refers to the changes in the production process in the manner which…

Q: What type of cost arises from making decisions? a. opportunity b. total с. fixed d. marginal e.…

A: In economics, decision making is the process which includes the decision of a rational individual in…

Q: Timothy receive $100 on his birthday. He wants to buy either a new skate board or a new mp3 player…

A: In a market, action and decision of the market participants belongs to some of the core economic…

Q: If scarcity and misallocation are two different concepts, how can either concept be used to better…

A: Scarcity defines the gap between the limitless wants and the limited resources. This situation can…

Q: Give some examples of benefit-cost analyses?

A: Benefit-cost analysis is a process used by the business to analyse the decisions and to choose the…

Q: Due to heavy rains the price of ground produce increases. which core principle is represented in…

A: Due to heavy rains the price of ground produce increases. The core principle which is represented in…

Q: Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player…

A: We only answer one question so we will answer the first one. Please submit a new question specifying…

Q: One of the business enterprise is manufacturing sanitary building materials, it could be the example…

A: Consumer Goods are those goods which are the basic necessity if consumers like food, clothing,…

Q: From Opportunity cost point of view. Although attending college is expensive, time-consuming, and…

A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…

Q: The following people are considered as strategic thinkers in business 1. Bill Gates 2. Steve Jobs 3.…

A: In democratic government it has been particularly observed that there is both public and private…

Q: Which of the following economic concepts can be defined as the next best alternative given up when…

A: In economics, we deal with resources which are scarce in nature, the ways to utilise them…

Q: A mattress company can create mattresses to sell in retail stores/online or utilize the same…

A: The word "opportunity cost" is a macroeconomic concept that refers to resource shortage. Due to a…

Q: You own a DVD of the film 'A Beautiful Mind'.  The opportunity cost of watching the DVD the second…

A: There are various cost in the economy like variable cost, fixed cost, and opportunity costs.…

Q: Your opportunity cost of going to a movie isa. the price of the ticket.b. the price of the ticket…

A: Opportunity costs are the costs incurred when choosing next best alternative

Q: Mr. Adam has recently graduated from NSU and is now thinking of starting an MBA in the USA. How can…

A: Companies employ a cost-benefit analysis to identify which decisions to make and which to avoid. The…

Q: Which of the following is an example of a microeconomic topic?  a) How to run a business and earn a…

A: Microeconomics deals with factors that influence people's choice, decisions affecting goods market…

Q: How do Mankiw’s ten principles connect with Baumann’s ten principles

A: Mankiw's principles and Baumann translation of those principles are interlinked to each other.…

Q: le.courses.open.uwi.edu/mod/quiz/attempt.php?attempt=D11017&cmid%3D16128&page%3D4 change 2021…

A: In Economics, the scarcity problem arises from the fact that resources are limited while human wants…

Q: How can scarcity of resources be a problem to society

A: Scarcity happens when the availability of resources is less than demand of society. Thus, society…

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: If you can please also, add charts and graphs to broaden the explanation as well as add articles and…

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

Q: Give the Examples of benefit-cost analyses?

A: Benefit-cost analysis is a process used by the business to analyze the decisions and to choose the…

Q: a)  Describe an important trade-off you recently faced. b) Define opportunity cost and give an…

A: a. Trade off refers to the situation where some amount of goods should be given up in order to gain…

Q: Give an example of how scarcity of a product would have an impact on a microeconomic level. Please…

A: Scarcity means the availability of limited resources to carry out economic activities. It is a basic…

Q: What is core principle in economics

A: While having a fundamental comprehension of financial hypothesis isn't seen as being pretty much as…

Q: Why is deductive reasoning stronger than inductive reasoning? A. Because it makes assumptions based…

A: Deductive reasoning is stronger than inductive reasoning

Q: What is proper method in economic analysis and what is the value of economic analysis?

A:

Q: What are factors affecting economic analysis?

A: A study of the economic system can be defined as an economic analysis. The economic analysis helps…

Q: How does opportunity cost relate to problem of scarcity

A: Scarcity means that the demand for a good or service is greater than the availability of the good or…

Q: Discuss the principles of individual decision making with examples

A: People continuously make decisions. Their behavior determines the behavior of the economy as the…

Q: Describe Building a Should-Cost Model?

A: Should-Cost modeling is the process of determination of what a product must cost being based upon…

Q: What are the major course learning outcomes from studying a microeconomics course?

A: Microeconomics is the discipline of economics that investigates the economy on individual and…