In economic analysis, what are the assumed objectives of households, firms, and the government?

Q: What does the public sector provide that the private sector does not?

A: Public sector is the part of economy which is controlled by the state or government. They provide…

Q: what can the government do to provide awareness and knowledge about people who are not literate in…

A: Answer - Need to find- what can the government do to provide awareness and knowledge about people…

Q: List five major economic activities of government and give an example of each

A: Government has many activities of government. Five major functions are:   1- Shielding of national…

Q: Identify the application of economic principles and theories to the present economic condition.

A: Economics hypotheses: These extensively fall under two classes: microeconomics and macroeconomics.…

Q: are the poorest members of society the greatest beneficiaries in the Difference principle of John…

A: The poorest members of society are not usually the most significant winners under the Difference…

Q: Discuss how policy variables, government spending and taxation, are used to influence economic…

A: A policy through which the government tends to adjusts its levels of spending and tax rates for…

Q: Explain Say’s Law and walras law in Microecnomics? Please describe with graph or with one example…

A: According to say's law focus point of economy should be the supply side because demand arises out of…

Q: Why does the value of output always equal the income received by resources that produced the output?

A: Output – it the total amount of commodities or services produced in a particular time period. It…

Q: Firms Households Markets for Factors of Production

A: Household is the supplier of factor of production, i.e., labor and capital Firm is the buyer of…

Q: Name any two types of consumption goods with examples

A: Those goods which have the tendency to satisfy the wants of the consumer are said to be as Consumer…

Q: Large majorities in the 11 emerging and developing countries surveyed either own or share a mobile…

A: The income effect refers change real income or purchasing power of consumers due to the change in…

Q: Discuss how it is possible for government organisations and private businesses to serve similar…

A: Meaning of Managerial Economics: Under managerial economics, the concept focuses more on…

Q: You are given the information of three sector economic model: C = 300+ 0.8YD 1 = 100 G = 200 T=50…

A: We know that any economy is in equilibrium when: Y = C + I + G Also Yd = Y - T Yd means disposable…

Q: What is private income

A: Domestic income has to segments, firstly it includes the value of income from domestic product…

Q: Discuss the four key economic functions performed by the government .

A: In a democratic nation government acts as the central authority to govern the nation by maintaining…

Q: what is ? 1-)Expenditure Approach 2-)Income Approach 3-)Production Approach

A: Answer -  Expenditure Approach - Expenditure is a method used for calculating "GDP" . By, taking…

Q: Why does the general public often refer to the cost-of-living index?

A: The economy consists of different type of people in it. There will be some with high financial…

Q: Are households primarily buyers or sellers in thegoods and services market? In the labor market?

A: The circular flow model depicts the flow of money in society. Money moves from producers to…

Q: Describe how government economic policies play a role in the economy? with details and sources?

A: Government policy plays important role in developing economic growth because every activity and…

Q: Why the government should prioritized the better standards of education and healthcare, particularly…

A: Government is the authority that works to maintain the stability in the economy and tires to improve…

Q: What is the definition of economic

A: Microeconomics is the discipline of economics that studies how people and businesses react to…

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A: A minimum standard of living refers to ability of an individual to acquire food, clothing and…

Q: The following parts of government regularly rely onthe advice of economists:a. Department of…

A: Economists are those experts who study the association between the resources of a society and its…

Q: The most fundamental economic problem is _________ . a. Security b. Scarcity c. Health d. None of…

A: The most fundamental economic problem is scarcity. Hence, Option (B) is the correct answer.…

Q: Governments may intervene in a market economy in order toa. protect property rights.b. correct a…

A: The economic system refers to a system of a nation concerned to the allocation of resources,…

Q: What role of government do you think is the most important from an economic perspective and why?

A: In a market economy, there exists an economic role for government where the benefits of the policy…

Q: What are the factors used to measure economic well being?

A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…

Q: Give an example of a sustainable government project (or program) that may boost the South African…

A: Answer: The South African government has taken various steps to boost the South African economy…

Q: Discuss the importance of services to the economy

A: Economy is the inter connection of different economic activities such as production, planning,…

Q: Why is the study of economics important to democracy and why is it important for society to have an…

A: ExplanationEconomics is a subject that deals with the relationship between individuals who are…

Q: Matching. Match the following descriptions with the correct level of government. A=United…

A: Answer-

Q: different initiatives of the government to address the social injustice

A: Social injustice depicts the injustice faced by an individual or group at social level.

Q: The government intervenes in the private sector by imposing laws that ban smoking in all publicly…

A: Smoking ban in public places is justified by economics.

Q: Civil Society Organisations (CSO) differ from corporations. How would these organisations (CSO and…

A: Any non-profit, voluntary citizens' group organised on a local, national, or worldwide level is…

Q: Compare and contrast the four types of economic systems. Write 3-5 sentences

A: Economic system: It refers to the means by which a society or government organizes and distributes…

Q: Economics

A: Quantity changes will be shown as movement along the demand curve.

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: Differentiate between primary benefit and secondary benefit?

A: In general, the primary benefits are the net direct benefits of any goods, services and decisions to…

Q: "For whom is a given mix of goods and services to be produced? How, in other words, are the…

A: A market economy is an economic system in which economic decisions and the pricing of goods and…

Q: What role of government do you thỉnk is the most important from an economic perspective and why?

A: The economics as a study is associated with the use of resources, where the resources with the…

Q: Despite their differences, with which proposition are two economists chosen at random most likely to…

A: These two economists have their concepts. This is reflected by the differences in their viewpoints…

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Q: Which groups are the most powerful interests in the state O a. business and professional…

A: We have to find which groups are the most powerful interests in the state.

Q: The single biggest item state and local spending is spent on is  its only one option    a.…

A: According to the government budget survey, the state and local government expenditure fall under the…