Select an incorrect statement with regard to the study of economics (a) study of consumption (b) study of production (c) study of distribution (d) study of investment
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(a) study of consumption
(b) study of production
(c) study of distribution
(d) study of investment
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- A good economic theory …. Group of answer choices captures the essence of the economic concepts and facilitates their understanding. Must contain a complete representation of real economic events to be useful. is a detailed representation of reality used to explain past economic events. A set of mathematical equations representing economic behavior.You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The economy you select should be a growing economy or an economy that has experienced growth at some stage in its development. Present the finding of your research under the following headings. THE ROLE OF PRICES An examination of the role that prices play in the economic system you have chosen. (150 - 200 words)The primary focus of the study of economics is on:a. expanding the production of goods and services.b. making the most efficient use of scarce productive resources.c. equalizing the distribution of consumer income and wealth.d. reallocating resources from consumption to production in the economy.
- Which of the following is the best description of the study of economics? Economics is the study of best management practices for businesses. Economics is primarily concerned with actions of central banks, like the Federal Reserve of the U.S. Economics is the study of how people deal with scarcity. Economics is primarily concerned with movements in the stock market and how to make wise investments.Classify the following as microeconomics or macroeconomics and provide a justification for your choice. The effect of government regulations on car emissions. The impact of an increase in the price of computer chips on the market for personal computers. The relationship between education and economic growth. The impact of a decrease in national saving on a country's economic growth.Solve the Given question from economics question attached below?
- Identify the steps in a typical scientific study and compare with that involved in economic studies.The primary focus of energy economics is how: Group of answer choices a-Energy production is decreasing b-People deal with the scarcity of energy c-People conserve crude oil for future use d-Energy consumption is increasingWhich of the following areas of study typifies microeconomics as opposed to macro-economics? a. The impact of minimum-wage laws on employment in the fast food industry b. The effect of changes in household saving rates on the growth rate of national income c. The effect of an increasing inflation rate on national living standards d. The effect of an increase in the minimum wage on an economy’s overall rate of unemployment
- You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The economy you select should be a growing economy or an economy that has experienced growth at some stage in its development. Present the finding of your research under the following headings. BACKGROUND AND ECONOMIC FUNDAMENTALS Here you should include background info regarding the economy you have chosen (including geographical location, size of the economy, standard of living in the economy, economic growth rates, problems facing the economy). Include facts about your chosen economy that you believe are relevant to the different subsections of your report. Your discussion should also clearly highlight the diff between micro and macroeconomics by identifying some aspects of your chosen economy's micro and macro economy. (150 - 200 words)Generally, the study of economics has to do with Question 24 options: How resources are not scarce. How people make decisions in the face of scarcity. How to ignore opportunity costs. How the stock market operates during a recession.definition of standard economic theory