What is the definition of economic

Q: There are two kinds of markets in circular flow diagram in economics These are product markets and…

A: When dealing with the circular flow model, one can see two types of markets such as product market…

Q: is father of economics

A: Adam Smith is popularly called the Father of Economics.  He is famous for his book - The Wealth of…

Q: What is economic region of production? Describe with diagram.

A: An economic region of production can be referred to as an area of economic sense in which the…

Q: You here a policy analyst say no individual should have less than a 10, 000 income in Cuba, decide…

A: Let's first understand what are positive and normative statement. Positive statement is factual…

Q: Why is this economic measuresignificant?

A: Economic growth expands the capacity of the state as well as the supply of public goods. Growth…

Q: own ex

A: The discipline of economics is being heavily influenced by the bias of the researcher, which in turn…

Q: What is economic

A: Economic is divided into two major discipline that is microeconomics and macroeconomics. Here,…

Q: Test- What is micro economics?

A: Economics is the study of how the society uses its limited resources. Thus, the economics is a…

Q: 1. Define economics?

A: Economics is divided into two broad categories,  Microeconomics: It refers to the study of…

Q: what is micro economy?

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: what is micro economics?

A: Economics: The problem of scarcity induces to study the problem of choice at a social or national…

Q: Why does the general public often refer to the cost-of-living index?

A: The economy consists of different type of people in it. There will be some with high financial…

Q: What are the economics market

A: The market is a location where the transaction of services and commodities takes place.

Q: what is economic phenomena

A: Unemployment is the situation in which an employable individual seeking a job but cannot find one.

Q: Are households primarily buyers or sellers in thegoods and services market? In the labor market?

A: The circular flow model depicts the flow of money in society. Money moves from producers to…

Q: In what ways does franchising contribute to an overall economy?

A: Franchising is a process of marketing and distributing products where the owner of the business that…

Q: Whar is Economics ?

A: ‘Economics’ is the study of human behaviour that how an individual gets their livings. It is also…

Q: Vhich of the following is a macroeconomic statement?

A: Macroeconomics is a branch of economics that deals with the attributes of the whole economy. It…

Q: Is organisation a part of factors of production?

A: # Goods and services which are the base of an economy are reffered to be as factor of production.

Q: What are the economic markets

A: There are many economic market structures which are differentiated by ts characteristics. All…

Q: How to classify goods as consumption goods and capital goods? Is there any specific way to do so?

A: If the good is capable of satisfying the human wants directly then it is referred to be as…

Q: What is economics study?

A: Economics study is the study of how limited and scarce resources are employed to produce goods and…

Q: write down about the econmics systems.

A: Economy: It is a system that organizes money, industry, trade of a country or region.

Q: What is B/C ratio? How do you calculate B/C ratio?

A: B/C ratio stands for Benefit-Cost ratio. It compares the present value of benefit expected from a…

Q: explain what socio-economic theory assumes about people’s behavior. What are some of the social…

A: The study of the connection or interaction between social behaviour and economics is known as social…

Q: What mean economic

A: Microeconomics and macroeconomics are two commonly known branches of economics. Individual economic…

Q: What is meant by flexibility in economic terms?

A: Meaning of Economics: The term economics refers to the situation under which there remains…

Q: How does the microeconomic theory of fertility relate to the theory of consumer choice?

A: The relationship between the consumer's preferences and the expenditure is depicted by the theory of…

Q: How is education level impact the lives of consumers?

A: Consumers are the people who make purchases. For a business organization, it is very important to…

Q: What Is Economic Conditions?

A: Economic Conditions: It is the present condition or state of the economy of a country. This…

Q: In your own words, Explain what is BJMP. Write in 200 words.

A: BJMP is known as Bureau of Jail Management and Penology which is a Department of the Interior and…

Q: Economics

A: Quantity changes will be shown as movement along the demand curve.

Q: What is mixed economy and what are the features of the mixed economy please explain?

A: A mixed economy is a framework that joins attributes of market, order, and conventional economies.…

Q: Choose a simple economic term and explain it.

A: Opportunity cost It is the best alternative foregone.

Q: What does it mean to think like an economist?

A: Economist think by considering relevant facts about an economy.Different factors such as…

Q: What is an Economist

A: The following problem has been answered as follows:

Q: What does it mean to be a philosopher

A: A philosopher is an individual who offers view on profound questions in ethics, logic, metaphysics…

Q: what is econmy?

A: Economy basically defines the economic situation of any country.

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Q: The branch of economics that is concerned with the study of individual economic unit is known as

A: According to its definition, economics is a social science that examines the issue of product…