QUESTION 11 Determining the price of compact dises is a concerm of a. neither macroeconomics not mictoecorniomics b. both macroeconomics and microcconomics c. microeconomics. d. macroeconomics.

Q: uestion 1   Classify the following as macroeconomic or Microeconomics and provide a justification…

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Q: .Define scarcity? 2.How can opportunity cost affect behavior? 3.Inflation rate should be less…

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Q: _____19. Which of the techniques is not employed in microeconomics? a. Models  c. mathematics b.…

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Q: . It is primarily the basis of economic activity a. economics b. scarcity c. social science d.…

A: Economics is the study of human decisions in the face of scarcity.

Q: Economics may best be defined as the: A. Interaction between B. Social science concermed with how…

A: Social science studies different aspects of societies and relationships among individuals. It also…

Q: In economics, positive statements are about OA the way things ought to be OB the way things are. OC…

A: Positive economics is a branch of economics concerned with describing, quantifying, and explaining…

Q: QUESTION 7 In economics, positive statements are about.. O A. the way things ought to be. O B. the…

A: Since you have asked multiple questions, we are answering the first one for you. If you want the…

Q: 19.  Which of the techniques is not employed in microeconomics? a. Models c. mathematics…

A: Microeconomics is the branch of economics that deals with households, firms, owners etc.

Q: 8)___________ economics deals with human behavior and choices in small units-an individual, a firm,…

A: Microeconomics is a branch of economics that deals with the study of decisions made by individuals,…

Q: 14. What assumption is important in using economic model to make predicitons? a) the law of demand…

A: An economic model is a simple version of reality that allows us to observe, understand and make…

Q: A microeconomic analysis would deal with? a. How the change in the price of gas effects a family…

A: The study of economics can be divided into two branches namely macroeconomics and microeconomics.…

Q: 1. Distinguish between Microeconomics and Macroeconomics with their obiectives

A: Micro-economics studies economic issues or economic problems at the level of an individual. Whereas…

Q: 11.Which part of economics is concerned with defining an ideal economy? A. Positive economics C.…

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Q: Explain why the three (3) goals of macroeconomics are relevant

A: Macroeconomics is a discipline of economics that investigates the behavior of a whole economy, such…

Q: explains that the two most important assumptions of economics are scarcity and cost.  Please explain…

A: The study of scarcity and its effects on resource use, product and service production, output growth…

Q: d. State and explain Walras Law. What are the implications of Walras's Law? Illustrate Walras Law in…

A: The Edgeworth box is a two-dimensional depiction of a simple and closed economy with two individuals…

Q: Which of the following is a microeconomic question? a) How can we reduce the unemployment rate among…

A: The economy is the system where goods and services are manufactured, sold, and brought into the…

Q: Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier…

A: Macroeconomics – It is the branch of economics that studies the entire functioning of a national…

Q: 1: What is Economics, and Why Is It Important? 2: What is Studied in Microeconomics and…

A: Economics is multidisciplinary subject matter which deals with social science behaviour of society .…

Q: “Study of economics starts by acknowledging life’s trade- offs”. Discuss the statement in context of…

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Q: Because of scarcity,a. it is impossible to satisfy every desire andchoices must be made.b. the…

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Q: Explain how microeconomics differs from macroeconomics. Which of the following headlines, taken from…

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Q: 6. Microeconomics and macroeconomics Determine whether each of the following topics would more…

A: Microeconomics is the investigation of people, families, and firms' conduct in the direction and…

Q: Identify each of the following topics as being part of microeconomics or macroeconomics: the effect…

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

Q: Discuss TWO (2) similarities and differentiation between macroeconomic and microeconomic. Relate TWO…

A: Definitions:   Macroeconomics is a part of economics aspects that portrays a substantial picture. It…

Q: 1. Why do we need microeconomic models? Using appropriate diagram(s), explain how changes in a…

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Q: Write four differences between Microeconomics and Macroeconomics?

A: The wants and desires of the individuals in the economy are unlimited but the resources available to…

Q: Understanding the Three Questions of Economics The three questions of economics are based on…

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Q: 2. Indicate whether the following statement(s) applies to microeconomics (Micro) or macroeconomics…

A: Economics is the study of the scarcity of resources which means the decision of what to produce, how…

Q: 1. Why do we need microeconomic models? Using appropriate diagram(s), explain how changes in a…

A: Microeconomics focuses on an individual's or a firm's choices in a world of scarcity and the ripple…

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A: 1) Normative economics statements are prescriptive. They make a claim how the world ought to be.…

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A: Three ways in which a government policymaker can raise the growth in living standard in society…

Q: QUESTION 3 The study of an economy's price level is explicitly a part of O macroeconomics.…

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Q: 1.1 Economics concerns itself with: 1. A systematic understanding of patterns of production,…

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Q: Which of the following statements is most correct? Select an answer and submit. For keyboard…

A: Economics is a social science which studies the consumption, production, distribution of goods and…

Q: Which of the following are microeconomicissues? Which are macroeconomic issues?a. How will an…

A: Microeconomics Issues are those which deals with individual units and consumer behaviors. It is…

Q: 3. What methodological conAider ation in E com omics will be useful far decision - makKing or policy…

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Q: 6. To isolate the impact of one single factor, economists invoke the assumption of a. inductive…

A: Assumptions enable economists with a basis for understanding economic operations and make…