make choices people must O a. have limited resources. © b. be free to choose as they wish, without constraint. © c have unlimited access

Q: The economizing problem is essentially one of deciding how to make the best use of limited resources…

A: An economic dilemma is defined as a challenge of decision-making that arises from a scarcity of…

Q: Governments use violence, and the threat of violence, to force people to do what they do not want to…

A: The statement is False Government is selected by the people of the country and is the government…

Q: Bong-Cha is deciding what to do during the 30-minute break between her college classes. One rule she…

A: Opportunity cost: It refers to the benefits that a person has to sacrifice in order to choose…

Q: (1) single choice Q 1.Which of the following statements is true of creative destruction? A. Creative…

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

Q: So the last is it the fact that resources are scarce or law of increasing opportunity costs ? Cannot…

A: At the point when economists allude to the "opportunity cost" of an asset/resources, they mean the…

Q: IA nation with fixed quantities of resources is able to produce any of the following combinations of…

A: The production possibility curve shows the combination of goods produced in a country using all the…

Q: Consider Angela who currently works as a data scientist with machine learning expertise. Recently,…

A: Here the consumer receives utility from both consumption and leisure ( free time ) . The more is the…

Q: Tina can allocate her 8-hour day between baking and cooking. Each hour devoted to baking yields 2…

A: First, we find the maximum quantity of cake and plates of food that can be produced using 8 hours.…

Q: Efficiency means that: Select one: O a. society is getting the most it can from its scarce resources…

A: An efficient distribution will be that distribution we can make anyone better off without making…

Q: Can i i get some idea what to write in that analysis?I have no idea what to write. Plz provide me a…

A: The firms produce the goods and services that are demanded by the people in the economy. The…

Q: t is best for society to produce 4 million units of other goods and services and 50% malaria control…

A: Most efficient point: A point that lies on the PPF curve is the most efficient and attainable point.…

Q: 1. Brunhilde earns $50 per hour in the paid labor market, and can produce 50 units worth of home…

A: As Brunhilde has two essential requirements for her marriage: she wants to spend some of her time…

Q: Suppose the following data reflect the production possibilities for providing health care and…

A: Hi Student, thanks for posting the question. As per the guideline we are providing answer for first…

Q: Supposed that there is widespread inefficiency in agricultural production in a region, due to low…

A: Productive efficiency is described as a situation of manufacturing services and goods with the…

Q: Capitalism allows for the private ownership of the factors of production. O True O False

A: The factor of Production: The resources that are used in the production of goods and services are…

Q: You want to get a Halloween costume. You have a $20 gift card from Target, which expires today. You…

A: Answer: option d ( The value of a $20 costume from Target) Explanation: The opportunity cost is the…

Q: a. At which point(s) is this society producing some of each type of output but producing…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Efficiency is when O a The benefits of the resources are distributed fairly among economic agents O…

A: Economic wealth: It refers to the valuation of resources that are available in the economy. The…

Q: inefficient use of resources may be illustrated with a production possibility curve as:          A)…

A: # The correct answer is (C) PPF represents the bundle of goods that can be produced with the most…

Q: Bong-Cha is deciding what to do during the 30-minute break between her college classes. One rule she…

A: Here, it is given that Bong-Cha makes her decision on how to spend her 30 mins break. Also, she has…

Q: hat is a basic definition of per diems? what are the pros and cons of per diems?

A: Per diems: It refers to the expenses and it is a Latin expression that signifies "for every day."…

Q: When you make a choice, whatever you give up as a consequence is called a/an a) priduction cost b)…

A: Resources are scarce and wants are limited. Thus there always exists tradeoff of resources.

Q: The basic concern of economics is * O to keep business firms from losing money. O to prove…

A: Economics is the branch of social science that deals with the consumption, distribution, and…

Q: Kate has just finished high school and is considering what to do next. She has narrowed down her…

A: Present Discounted Value refers to the value of a series of cash flows at regular intervals or the…

Q: Even if preferences and technology are well behaved Walras' law might NOT hold in an economy with…

A: In an economy, there are different laws used to make an analysis of different economic variables and…

Q: GUNS 600 E C F 500 B 400 iG A 300 D ROSES 350 500 580 700 5. The opportunity cost of moving from B…

A: Opportunity cost of moving from B to A = What is sacrificed / What is gained

Q: Scenario: Alex, an entrepreneur, operates a called business "Fitness for Life", providing physical…

A: According to the question given, Alex is an entrepreneur who owns a business called "Fitness for…

Q: xt:Bong-Cha is deciding what to do during the 30-minute break between her college classes. One rule…

A: Rule (A) Choose the activity with the highest value Rule (B) Choose the activity with the lowest…

Q: Salem saves 300 riyals every month to build his future. What is the value of this position? A-…

A: Salem saves 300 riyals every month to build his future. What is the value of this position? A-…

Q: Under the efficient level of production, the economy is getting all it can from the commonly…

A: In production economics, an efficient level of production alludes to a degree of greatest limit…

Q: Capitalism refers to: a traditional economy. O a command economy. O a market economy. O socialism. C…

A: Capitalism is one ideology to run an economy that promotes the trade between the consumers and…

Q: When it comes to getting a college education, most people consider not O their self-interest; the…

A: Externality refers to spill-over effect of a good or service on the society.

Q: In the context of the circular flow of economic activity, which of the following would NOT be a…

A: Answer : B. Provisions of factors of production

Q: 1. Law follows ethical analysis which is the basis for creation of a law. Select one: O. True O.…

A: Law follows ethical analysis which is the basis for creation of a law. This statement is true .…

Q: clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity…

A: Managerisl economics characterized as discipline of financial aspects worried about utilization of…

Q: Efficiency means that: Select one: O a. society has dependence on foreign energy sources b. society…

A: Use of something in such a manner that wasting can be minimised and outcome can be maximised.

Q: Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton…

A: Production possibility curve shows combinations of the output of two goods that are being produced…

Q: Global communications in the information age O 0. Connect populations living at distance from home…

A: The sharing and development of information through nonverbal and verbal messages in international…

Q: or the kingdom explain the compo

A: The consumption function is the relationship between current consumption and current disposable…

Q: A universal assumption in economic theories is that  a) people are motivated by self-interest b)…

A: The theory that depicts a set of principles and ideas that tend to outline the different functions…

Q: Why combinations above the Production Possibility Curve are not attainable? a. It is due to…

A: Production possibility curve is defined as the combinations of different outputs with given amount…

Q: Part 3: (Continued from above) Because the Once-lers are motivated by individual profit and won’t…

A: Firm's objective is to maximize the profit and produce where marginal revenue and marginal cost are…

Q: Quantity per peried) Quantity (per period) Pan PaneD Quantity (per peried) Quantly (per perin…

A: When there is change in other factors and price remains constant, then the supply curve or demand…

Q: Daniel has $50 left over this week and he wants to contribute to a charitable cause. With $5, Daniel…

A: Daniel had a total of $50 on him & Daniel could feed ten homeless persons for $5 each if he…

Q: According to the invisible hand concept, the best way for a society to encourage the creation of…

A: Adam Smith was an eighteenth-century Scottish economist who lived from 1723 to 1790. While Smith's…

Q: Planned economies are economies wherein the market is the primary mechanism of resource allocation.…

A: Planned economies represent an economic system where production and allocation of goods takes place…