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

Q: According to the principle of , consumers determine what is produced in the economy through their…

A: Consumer behavior is the study of what motivates people and businesses to buy particular things and…

Q: Why is economics so useful for, or amenable to, policymaking?

A: Policy making refers to the plans of the government according to the vision and current situation…

Q: In common parlance, we say that economics is everywhere. Comment

A: Economics is that the investigation of how people choose choices notwithstanding shortage. These are…

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: Differentiate economics as a social science and applied science?

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

Q: What sectors of the economy do you believe the government should take an increasing role, and what…

A: Economic growth implies a method of increase in real value and real. per capita financial gain.…

Q: Why economics is an applied science?

A: In recent period of time the market and the situations in the world are market by the scientific…

Q: During the construction of a high way ,the government announces the amount of jobs created .This can…

A: Expenditures on construction of highway by the government is part of government expenditure which is…

Q: Every citizen should take basic economics is an example of a positive statement true or false

A: Positive Statements are those which can be tested and proved.  Normative statements are those which…

Q: How can we say that economics is considered as social science or how economics is defined as social…

A:

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: 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: In what ways is economics a science and why do economists make assumptions

A: Introduction: An economist is a professional and practitioner in the social science subject of…

Q: Identify and define the two branches of economics

A: Economics:- Economics can be defined as the subject that studies the production, consumption and…

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: why is the economy not self-correcting? What can be done about it?

A: The principle that if economy is left to its own devices is called self-correcting. When an economy…

Q: What are three basic economic questions?

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

Q: ow well do  ordinary people and  corporate executives conform to the way neo-classical economic…

A: Neo classical theory assumes that market forces of demand and supply are responsible for market…

Q: If economics is a positive science, why do economists always disagree

A: Let’s see it with an example, suppose a nation has a high unemployment rate. The government…

Q: According to Forbes Magazine, there are close to 2700 billionaries in the world. It is likely fair…

A: Scarcity refers to the economic phenomenon where the resources are not sufficient to meet all demand…

Q: What is the difference between an economy based on individualism and an economy based on…

A: OVERVIEW OF ECONOMIC INDIVIDUALISMEconomic individualism is based on the belief that the government…

Q: According to the principle of , consumers determine what is produced in the economy through their…

A: Consumers are the people who demand goods and services for consumption and are willing to pay a…

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: How does the study of economics depend upon the phenomenon of scarcity?

A: Scarcity is known as the excess of demand over supply in an economy at a particular price.

Q: Tim Geithner, a former V. S. Treasury Secretary, has said, "The recession that began in late 2007…

A: Coming up next are the vitally economic interaction standards:-1) One consumer's expenditures are…

Q: Which is the largest figure in economics?

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

Q: What are the factors or market

A: Factors can be defined as the factors being used in the production process which are: Land Labor…

Q: What assumptions does the model of intertemporal choice makes that are not likely true in the real…

A: The inter-temporal choices theory states how the individual decisions that are taken today at…

Q: How does a market failure cannot deliver theoretical benefits and what are its effects on the…

A: Market failure is a balance designation of assets that isn't Pareto Optimal - the likely reasons for…

Q: what are the four structures in  economics

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

Q: how macrosystematics work

A: Macro systematics is a hedge or mutual fund strategy on the basis of their holdings in a portfolio…

Q: The Department of family planning estimated that it would costs a middle-income family $550,530 to…

A: Given: Cost of raising a child from age 1-17=$550530

Q: What good is economic theory if it cannot predict the behavior of a specific individual?

A: Economic theory helps in analyzing the functioning of an economy. It helps in understanding both the…

Q: How does Matthew effect affect the principles of economics.

A: The term "economic principle" refers to a broad range of economic rules and ideas that describe or…

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: The government intervenes in the private sector by imposing laws that ban smoking in all publicly…

A: Smoking ban in public places is justified by 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: Economists have various perspectives and theories about how an economy should operat Which economist…

A: Smith contended that by giving everybody opportunity to deliver and trade merchandise however they…

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…

Q: Directions: Read the article below . Then , discuss how the economic program of the government…

A: Scarcity is an important term of economics. If the demand for goods and services is greater than the…