What is economics? Economics is the study of money and financial systems. b. a. Economics is the study of business. Economics Is a behavioral sclence that studies how people make choices. Economics is a natural science that studies the resources that nature and previous generations have provided. C. d.
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Economics is a study of social science.
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- Is economics a science? Why, or why not? include the definitions of “science” and “economics” explain in simple way so i understand it's not essay just like paragraph of 150 wordswhat is the significance of economics. Explain in details.Economics is best defined as the study ofa. how society manages its scarce resources.b. how to run a business most profitably.c. how to predict inflation, unemployment, andstock prices.d. how the government can stop the harm fromunchecked self-interest.
- Economics is the study of all of the following except:a. how the prices of goods and services are determinedb. how people make decisions, given scarce resourcesc. how to eliminate scarcity with new ideas and inventionsd. how buyers and sellers interact in a marketPlease don't use any ai tool.A microeconomic analysis would deal with? a. How the change in the price of gas effects a family b. inflation c. unemployment d. Real GDPwhat is economics and what are its branchs? what is the advantage of studying economics? how is economics useful in development of the current world?.
- o stabilise the price is one of the objectives of economics. a. True b. FalseIn what ways is economics a science and why do economists makeassumptions? What is the importance of the circular-flow diagram? On the Forbes 2021 list of the World’s Billionaires, Jeff Bezos ranks at the topwith a net worth of US$177 billion. Does he face scarcity, or does scarcity onlyaffect those with more limited incomes and lower net worth?a. In what ways is economics a science and why do economists make? b. What is the importance of the circular-flow diagram?
- Is economics a science, an art or both ? Give reasons for the answera. People have limited incomes and unlimited wants and desires. How will you define economicsin this context? b. Your family friends decides a tour trip of three days to hilly areas. You have made your mindthat you will join the trip while in the meanwhile if you don’t go with them you could go to universityand attend classes and lot of other things. What is this concept called in economics? Explain.42. In Mark Skousen’s article, “What is Economics, Anyway?,” he bemoans the apparent fact that the modern definition of economics is incomplete. What does he say is missing? A. relationship between means and endsB. the concept of scarcityC. the process of transformation of resourcesD. allocation toward competing ends 43. The broken window fallacy a. explains why inflation is so high.b. is a justification for the government to print more money.c. is illustrated when a government program is justified not on its merits but on thenumber of jobs it will create.d. has nothing to do with public policy. 44. Capitalism was originally a smear used by which socialist founder? A. Adam SmithB. Jean-Jacques RousseauC. Vladimir LeninD. Karl MarxE. Paul Krugman 45. How does subjective value make “gains from trade” possible? 46. Think back to August 6, 1945. The United States has just dropped an atomic weapon on the city of Hiroshima killing tens of thousands of Japanese and devastating the…