what first sink in your mind when we call applied economics

Q: If your economics class were graded on a curve and everyone agrees to study only half as much,…

A: Based on the given data, we create the following table: OTHERS / YOU Study More Study Half No…

Q: Explain how markets can allocate resources in a way that they go to those who value them the most.

A: Prices are important in resource allocation. There are benefits and drawbacks to using the price…

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: Coke or Pepsi, in terms ofeconomics are

A: Coke and pepsi are the important players in beverage industry.

Q: Can you explain donut economics

A: Economics: It describes the interaction of people with value.

Q: NFL quarterback Tom Brady takes his extended family to each of his Superbowl appearances. His dad…

A: The statement is not consistent with the economic principle of diminishing marginal utility.

Q: One tends to find that conventional economics mainly pays attention to Select one: a. qualitative…

A: In economics, different systems, approaches and studies are used to explain the nature of an…

Q: How would an economist define the efficient amount of time studying?

A: Marginal cost (MC): The marginal cost refers to the amount of additional costs incurred in the…

Q: What are two components of laissez-faire economics? controlled economy O capitalism communism free…

A: OPTION B - Capitalism OPTION D - Free Market Economy In a Laissez-faire economy, there is zero…

Q: Some college students have claimed that because their incomes will be higher as a result of…

A: The opportunity cost is the benefits of next best alternative that is sacrificed. The attending…

Q: Michelle owns an independent bookstore and has observed that college graduates read more than people…

A: Here Michelle is just trying to take some advantage of the situation by attracting them through…

Q: How equilibrium is determined in microeconomics?

A: Equilibrium is defined as a state in the economy where all economic forces are balancing each other.

Q: Explain the role of marginal analysis in economics.

A: In economics, the term marginal is used to describe an additional outcome that is added to the…

Q: WHO IS THE FATHER OF THE MODERN ECONOMICS

A: Economics is the study of social activities in which people interact with each other to make…

Q: what is modern economics

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

Q: Multiple Definition of economics

A: There are several definitions of Economics given over time. We have covered the most important ones…

Q: what does reading shakespeare or dostoevsky add to an economics student?

A: The book by David Hawkes titled Shakspeare and economics explains the economic thoughts that…

Q: Why economics is arts group

A: Economics is a social science as well as art which defines human behavior with the motive of…

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

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

Q: What is the Opportunity cost to this student for the additional amount of study time on economics…

A: The opportunity cost refers to the opportunity that has been foregone to select the best…

Q: In a market economy?

A: In a market economy, prices of goods and services and allocation of resources are determined by…

Q: Positive or Normative?

A: Unemployment benefits are the benefits that the government provides to eligible unemployed people.

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: advantages and disadvantages of positive economics

A: Positive economics: It means the analysis of objectives in the study of economics.

Q: What is scarce in economics

A: Economics is a subject of social science. It is commonly said that economics is the queen of social…

Q: Types of demand in economics

A: Demand can be categorized into different types on the basis of various factors. For example, factors…

Q: The rule of equating marginal benefit with marginal cost is proper for economics. Is this true?

A: The deep insight of the principle of microeconomics also has a field of environmental economics.…

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

A: MICROECONOMICS- microeconomics implies the study of the aspect of the economy at the individual…

Q: definitions of economics

A: The economics records the transactions of buying and selling of goods, it is a branch of social…

Q: Write down the merits of deductive method of economics? 300 words

A:

Q: Economics is the study of how a society manages its resources to

A:

Q: How does sociology affect the economics of a region?

A: Economic sociology employs sociological methods to study economic phenomena such as businesses,…

Q: What is the opportunity cost in economics?

A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…

Q: What is the scope of agricultural economists

A: Agriculture Economies is the study of how finite resources are allocated among competing and…

Q: What is the cost of your one year education from the eye of an accountant and eye of an economist?

A: An accountant is the one who calculates the costs and profits using only explicit costs. An…

Q: How do constraints affect decision making?

A: A type of external constraint is economic constraints. An external constraint is a factor in the…

Q: The second Nobel Memorial Prize in Economics was awarded to Paul Samuelson in 1970. Explain some of…

A: Paul Samuelson has made fundamental contributions in almost all the branches of the economic theory.

Q: The author of the text defines economics as the science of efficiency. the study of how humans make…

A:

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…

Q: What are the major course learning outcomes from studying a microeconomics course?

A: Microeconomics is the discipline of economics that investigates the economy on individual and…