How is the father of economics

Q: Discuss any three principles of economics and how can you apply them in real life?

A: Economics is the study of human behavior regarding the use of scarce or limited availability…

Q: is father of economics

A: Adam Smith is popularly called the Father of Economics.  He is famous for his book - The Wealth of…

Q: Find one positive or one normative statement. Explain how you know they are either a positive or…

A: One positive statement : Moffatt cited similar problems in Alaska, home to a national dividend fund…

Q: a. in what ways is economics a science and why do economists make?

A: "Since you have asked multiple questions, we will solve first question for you.If you want specific…

Q: normative economics define and give example

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

Q: In the world, every economy faces the same fundamental economic challenges. Explain briefly what are…

A: Economic issues faced by the world economy including for all the countries as well as region have a…

Q: What is economic paradigm

A: A paradigm (/prdam/) is a distinct collection of ideas or thinking processes in science and…

Q: In 2 Paragraphs explain how wants/needs connect to scarcity, which connects to the factors of…

A: Scarcity refers to the essential economic problem, the gap between limited – that's, scarce –…

Q: Define the term economics?

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

Q: Explain with example, how to construct economic model

A: An EM {economic model} is described as the clear version of reality that allows individuals to…

Q: Ralph Waldo Emerson once wrote: “Want is a growing giant whom the coat of have was never large…

A: Economics is a branch of social science which studies the economic agents’ behaviour and their…

Q: What is the need for integrating both the main branches of economics i.e Micro economics and macro…

A:

Q: Who is the 'father of economics'?

A: To find : Who is father of economics.

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 have you learned in the movie "The Wolf on Wall Street" that is related to Economics

A: The Wolf on Wall Street may be a film based on the true story of Jordan Belfort.  The Wolf of Wall…

Q: Describe Economics as a Social Science and as an Applied Economics. What are the different tools…

A: Answer:-  1) Economics as a social Science:- The study of economics is a social science. This…

Q: Which of the following best describe what we mean byresources in economics?

A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…

Q: What’s economics?

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

Q: What is economics and why is it a relevant subject?

A: Economics is the study of putting the scarce resources to the best possible use that would increase…

Q: Provide a brief description of the topic(s) you are considering for the presentation in economics

A: Macroeconomics: Macroeconomics study aggregated indicators such as GDP, unemployment rates, and…

Q: What does a normative statement describe?    A. how the world will be in the future  B. how the…

A: A normative statement is an ideological, prescriptive, and judgmental statement. It sets a standard…

Q: Who did Milton Friedman advise with his economic theory?

A: Milton Friedman was an American economist and statistician who believed strongly in free market…

Q: Which of the following a branch of economics that deals with how the economic problem facing the…

A: Economics is divided into different branches.

Q: what is your idea about economics

A: Economics is used for the study of how resources can be allocated in an efficient manner. It was…

Q: What is economics as a social science

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

Q: Economics

A: Amartya Sen has been known as the Mother Teresa of Economics for his work on starvation, human turn…

Q: 11. Who among the following are the important personalities in the field of Anthropology a. Edward…

A: Answer in Step 2 Note: As per bartleby guidelines i have to answer only first 3 part of questions…

Q: Economics Significant?

A: Economics is study of human behaviour under scarcity and tradeoffs  Human wants are unlimited but…

Q: what are the four structures in  economics

A: In economics, market structure refers to how different industries are classed and distinguished…

Q: There are three thing that economist study about, what are they? Explain!

A: Economists, study about the distribution of resources used in production of a commodity, their…

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: utilitarianism have good or bad effects on business?

A: The concept of utilitarianism refers to the belief of doing such things that will bring happiness to…

Q: What’s a economic example

A: Demand is the total quantity of goods buyers are willing to purchase at a different level of prices.

Q: Carefully define the following terms and explain their importance to the study of economics. A.…

A: When you want to decide between two alternatives, you must look at loss and gains from each…

Q: a good theory or model nat is an economic theory or model? What constitutes a "good" economic theory…

A: In economics, economic agents have to make rational choices so that the limited resources in the…

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 meant by micro economics?

A: People consume goods and services to satisfy human wants. People have to choose because resources…

Q: Discuss the nature and importance of economics.

A: The interaction amoung people is considered as social activity and these activities are further…

Q: Who are the forerunners and father of Economics. Explain and discuss their contribution in the field…

A: The greatest economists of the history of mankind or the forerunners of Economics Galileo Galilei…