The principles of economics cannot explain which of the following: Multiple Choice O Why people choose to work or go to college. Why a country might prosper. O How the value of money changes over time. How the temperature index is measured.

Q: What is economics? Economics is the study of money and financial systems. b. a. Economics is the…

A: Economics is a study of social science.

Q: explaining how humans behave? O a) money O b) incentives Oc) justice O d) fairness

A: being presented with money prompted large changes in individuals' activities. The individuals who…

Q: ich of the following is related to the use of economics? a. how people use unlimited resources to…

A: The answer is - c. How people use scarce resources to satisfy unlimited wants.

Q: Provide an explanation an economist might give showing why each statement is true: - “People must…

A: The social science that examines the way in which people tend to choose among the available…

Q: There no wrong answers for this problem. If we can use Gabey's past actions to predict his future…

A: In contrast to approaches that presume that human conduct is predetermined by forces beyond…

Q: if you want to have anything good you have to do it yourself violates which principle of economics

A: This violates the principle of Economics that says "Trade can make everyone better off". This…

Q: Question is attached below

A: a.When the economy faces double digit unemployment, it means that the economy is experiencing a very…

Q: Economics is primarily concerned with: * The future costs of goods O Consumer prices The training of…

A: Since you have asked multiple questions, we will solve the first question from each picture for you.…

Q: What is the market for bananas an example of? Select one: O a. Micro economics O b. Positivist…

A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…

Q: economics explains economic phenomena according to their cause and effects Which economics explains…

A: Economics is known to be as the branch of specific knowledge which includes with the process of the…

Q: Solve the attachment

A: Constrained choice happens when a financial(economic) agents must decide the ideal combination of…

Q: a. People have limited incomes and unlimited wants and desires. How will you define economics in…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Which of the following best illustrates the importance of addressing the three questions of…

A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…

Q: Which of the following questions does economics NOT investigate? a. How do individuals deal with…

A: Economics is the social science that study the individual and economic agent behavior in the…

Q: What are the 3 basic questions of economics?

A: The economics as a study is based upon the idea that the economies around the world tend to have a…

Q: What is economics, and how can you benefit from understanding basic economic concepts

A: Economics: Economics matters by investigating how people settle on choices despite the shortage.…

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: 4. Who expressed the view that 'Economics should be neutral between ends'?

A: To find : Who expressed above statement.

Q: Which of the following statements is NOT correct? Select one: O a. If poverty was eliminated there…

A: Here, all the given statements talk about the nature of economics and its use in the society.

Q: Jane has to choose either takeout or instant noodles for dinner tonight. Which axiom of economics…

A: The classical economist assume people are rational that means people take into consideration all the…

Q: Which of the following statements is NOT correct? Select one: O a. If poverty was eliminated there…

A: We are authorized to answer one question at a time, since you have not mentioned which question you…

Q: Base on your understanding illustrate what is economics

A: Similar, to other social branches of social studies, such as politics, geography, and history,…

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: Why does knowing the facts help people maximize their choices

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: QUESTION 1 Which of the following is an example of a microeconomic issue? O The government passes…

A: 1. Microeconomics studies the behavior of firms and individuals in making of the decisions regarding…

Q: An economic explanation for why people make different choices begins with accepting the proverbial…

A: Saving: It refers to the money that is not used by the people. It is the money which is used in case…

Q: which one of the following statements is incorrect Rich people do not expenence scaroty O Because…

A: Resources are limited on this earth which means they will exhaust if their consumption rate is…

Q: How does the slope of a budget line illustrate opportunity costs and trade-offs? How does a budget…

A: Let us suppose an economy produces only two goods -  X and  Y. Opportunity cost, in simple economic…

Q: What three institutions influence economics the most? Explain how each influences economics and…

A: Economics is referred as a social science. The word 'Economics' is originated from the GREEK word…

Q: Which of the following statements is NOT correct? Select one: O a. If poverty was eliminated there…

A: Poverty is very serious issue in most of the country around the world. So, government of the country…

Q: How does economics affect everyone?

A: Economics is a branch of social science which studies the behavior of the firms, people and the…

Q: Which of the following best illustrates the importance of addressing the three questions of…

A: In economics, the concept of scarcity refers to the constrained supply of resources. It states that…

Q: For a given question to be considered an economic question, it would need to involve: (a)money.…

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

Q: What is economics most concerned with? keeping interest rates low O making money allocating scarce…

A: What is economic most concerned with.

Q: Social scientists: want models that loo exactly like the real world O dont like to make predictions…

A: Social scientists look at every element of society, from historical events and achievements to…

Q: Which of the following is the best definition of economics? Select one: O a. The study of how…

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

Q: Moral background of natural economics?

A: Economics studies the way a society chooses to use its limited resources, which have alternate uses,…

Q: Explain the individual’s economizing problem and how trade-offs, opportunity costs, and attainable…

A: The individual’s economizing problem indicates the excess of desires over the limited resources. It…

Q: Question 3 Without scarcity, the study of, would be unnecessary. O economics O negative incentives O…

A: When the demand for a service or a good is comparatively greater than the actual availability of…

Q: Carefully define the following terms and explain their importance to the study of economics. A.…

A: When you want to decide between two alternatives, you must look at loss and gains from each…

Q: Microeconomics is the study of Select one: O a. how the economy as a whole works O b. how government…

A: The word economics is derived from the Greek word Oikonomia meaning management of the household. It…

Q: On which of the following concepts do economists focus their study when explaining how humans…

A: Option D is correct: INCENTIVES It is because incentives is such a thing that mainly describes the…

Q: Carefully distinguish between economic theory and economic model.  What is the role of value…

A: Economic theory: It is a criteria/study that provides an outlet for research in every area of…

Q: Which of the following questions is not answered by the decisions that every society must make? a.…

A: Three questions to be answered What goods and services are to be produced? How should these be made…

Q: WHY IS ECONOMICS RELEVANT VERSUS IMPORTANT?

A: Allocation of resources is the distribution of available resources and assets among various works…

Q: What is laissez-faire theory and is it applicable to the economy? Why and why not?

A: Laissez Faire theory is free form of economy where the government intervention is absent in the…