Ralph Waldo Emerson once wrote: “Want is a growing giant whom the coat of have was never large enough to cover.” How does this statement relate to the definition of economics?

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: You here a policy analyst say no individual should have less than a 10, 000 income in Cuba, decide…

A: Let's first understand what are positive and normative statement. Positive statement is factual…

Q: Differentiate economics as a social science and applied science?

A: Economics is a social science that studies the interactions between individuals and society.…

Q: Amagine you are the manager of a car dealership and you are trying to create an economic model to…

A: An economic model creates a similar situation for a firm in accordance to real life through which…

Q: According to the quote, why does this economist think students should study economics? As…

A: On March 23, 1998, William Poole became the Federal Reserve Bank of St. Louis' eleventh president,…

Q: How is the father of economics

A: Economics is a study of social science which allocates the limited resources to the unlimited wants…

Q: Which of the following countries  do not experience scarcity?     A.) United States of America…

A: In economics, the word 'scarcity' refers to the limited availability of resources in an economy.

Q: What are the key ingredients of an economic model, and why are models useful?

A: An economic model represents the quantitative relationship between two or more economic variables…

Q: Economist Richard Thaler describes economics as the sum of two parts. What are these two parts?

A: Richard H. Thaler is an economist from the United States. Thaler is a researcher who specializes in…

Q: what is modern economics

A: In an economy, the study of interaction among people for the purpose of buying and selling…

Q: What are John Maynard Keynes economic theory’s general principles?

A: The theories of John Maynard Keynes, called as Keynesian economics matters, base on the possibility…

Q: Who is the 'father of economics'?

A: To find : Who is father of economics.

Q: Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a…

A: The economic approaches can be mainly studied under two categories- positive statements, that are…

Q: According to the economic theory known as mercantilism

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

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: hat is an economic model?

A: Answer is given below

Q: what is economics

A: Answer to the question is as follows :

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: Which three key questions do economists try to answer?

A: Economists try to solve various problems existing in the economy.

Q: what does the absence of scarcity in an economy reflect in a graph?

A: In the absence of scarcity, the production of one good does not reduce the availability of resources…

Q: Using a suitably labeled diagram, discuss the underlying relationship between the Economics System…

A: An economic system refers to a usual mechanism used by communities or governments to coordinate and…

Q: What are three basic economic questions?

A: Economics is the subject that studies how to allocate the limited resource between the unlimited…

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 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 an example of the government (laws) shaping the economy or vice versa

A: A government can attempt to shape the pace of economic development through supply-side and…

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: What is intertemporal choice? And how it is elaborated in economics?

A: Economics is the study of efficient allocation of resources. The resources are limited or scarce…

Q: What is economics study?

A: Economics study is the study of how limited and scarce resources are employed to produce goods and…

Q: Which is the largest figure in economics?

A: Gross nominal product is the largest figure in the economics.

Q: The term scarcity in economics refers to the fact that??

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

Q: What is economics about ?

A: The field of economics is mainly divided into two categories microeconomics and macroeconomics. The…

Q: What is keenness to save in economics?

A: There are two points that can be taken into consideration first is consumption and another one is…

Q: How do the three main economics group interact with each other.

A: Consumption, production, and trade are carried out in an economy by three fundamental economic…

Q: what are the four structures in  economics

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

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: Who is your favorite economic thinker and why? Who is your least favorite economic thinker and why?

A: Keynes is favorite economic analyst  Keynes clarified how the public authority can assume a…

Q: Why is economics is deeply rooted in the concept of scarcity?

A: Professor Lionel Robinson is a person who give importance to scarcity in economics.

Q: Define trade-off in Economics

A: Trade off is the situational decision of a person in economics, if a person has to increase one…

Q: How relevant is economics in our everyday lives?

A: Economics is very important and useful to study to make it applicable in our daily lives. There are…

Q: The fundamental economic problem is one of scarcity. The basic questions of economics become: What…

A: Scarcity refers to the limited availability of a resource in comparison to the unlimited  wants.…

Q: Discuss the nature and importance of economics.

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

Q: What is the interrelationships between economics and law?

A: "ECONOMICS AND LAW ARE INTERRELATED"......it can be explained with the help of following: Economics…