What is the difference between “define contribution” and “define benefit”?

Q: Describe the benefit-cost ratio?

A: Benefit cost ratio is described as a ratio used in cost benefit analysis to sum up the general…

Q: Is ketchup a final good or intermediate good?

A: The markets are the place where the buyers of various goods, and services, meet, and interact with…

Q: Briefly evaluate each of the following statements about utility. A. Each individual pursuing their…

A: Utility: It is the want-satisfying power that a commodity possesses. There are two approaches to the…

Q: What is marginal benefit? How do you calculate marginal benefit?

A: Marginal benefit refers to the additional benefit that obtained by increasing the output by one more…

Q: What are the factors that will lead the household to spend his/her money. Write five (5) factors and…

A: Consumer spending refers to the expenditure made by households on goods and services. Consumer…

Q: Can you explain donut economics

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

Q: Is economics a study of making choices? Explain.

A: Because individuals have limited resources at their disposal, the problem of scarcity requires them…

Q: (Figure: Marginal Benefit Curves) Use the graph of marginal benefit curves for slices of cheesecake…

A: The buyer would buy a product of such quantity, where marginal benefit obtained from the product…

Q: What is the budget constrain and what does it show us?

A: A rational consumer purchases that much quantity of two commodities which are under his/her budget…

Q: The end use of the goods categorizes the good as intermediate good and final good.  True/False

A: There is no no specific method to find org category is a good to be as intermediate or a final good.…

Q: How does cost-benefit analysis differ from cost-effectiveness analysis?

A: Definitions: Cost-benefit analysis:  A cost-benefit analysis assesses the profitability of…

Q: I am trying to figure out how to find the marginal benefit

A: To show how to calculate the marginal benefit.

Q: Give an example of something that is a good for one person and a bad for someone else???

A: In the case of producing or consuming some commodities, harmful or beneficial side effects arise and…

Q: What is Asset allocation and different type of Asset allocation briefly explain.

A: Asset allocation refers to diversifying your investments among a range of various varieties of…

Q: Explains it correctly not copy paste Q)what is the role of Recourses in individual economy?

A: Role of Recourses in individual economy Answer: The role of resources in any economy plays a…

Q: What is economics constants?

A: Constants remain same.They do not change.

Q: f absolute advantage and comparitive advantag

A: When two countries involve in trade, one country exports that good in which it has ‘comparative…

Q: what is affordance and visibility?

A: Affordance: A feature of an object is to give the user a hint as to how to utilize it, what…

Q: Based on the law of economics, is an invitation to go to the movies as a birthday gift, considered…

A: In economics, the second principle says "the economic cost of something is what you give up to get…

Q: Using the list on the bottom what are "service" components and "physical goods" components? a new…

A: Physical goods refer to the products that are tangible. It can be durable or non durable. Service…

Q: Define marginal benefit. Show the efficient point using a marginal cost/benefit diagram

A: Marginal benefit is defined as additional benefit derived from the consumption of one more units of…

Q: The following graph shows the marginal benefit (MB) and marginal cost (MC) curves for baseballs in…

A: The graph shows the Marginal Benefit (MB) and Marginal Cost (MC) curves for baseballs in an economy.

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

A: Economy based on individualism :-  The basic feature of the economy is that it provides freedom to…

Q: what is the role of Recourses in individual economy?

A: Role of Recourses in individual economy Answer: The role of resources in any country occupies an…

Q: Describe the field of economics known as microeconomics.What is the cost-benefit principle?

A: Microeconomics is a branch of economics that analyses the effects of incentives and decisions on…

Q: B. In the Crescent City urbanized area, all households have the same tastes, but some households are…

A: Since there are a number of questions, the first three have been solved for you.   Income elasticity…

Q: The person who smokes cigarettes cannot possibly be thinking in terms of costs and benefits .…

A: The person who smokes cigarettes keeps other things constant. Therefore person who smokes cigarettes…

Q: George Bernard Shaw stated, "Economy is the art of making the most of life." Which of the following…

A: Here, it is given that, according to George Bernard Shaw, economy is considered as an art to make…

Q: What is budget line in economics and explain why it is downward sloping draw a diagram also.

A: In economics, utility refers to the want satisfying power of a commodity. The two main concepts…

Q: modern capitalist societies, use value of house is subordinate to exchange value of house. What does…

A: Value: Exchange and Use Value For Marx (1996, 1993) the worth of an item has two important, however…

Q: what is the significance of economics. Explain in details.

A: The social science of economics focuses on the creation, exchange, and consumption of commodities…

Q: Do Now: Define the following words: (online definitions are good just make sure it's related to…

A: Needs and wants are economic terminology that helps to understand the economic decisions of an…

Q: The study of economics is best defined as how

A: Human wants are unlimited and means to satisfy these wants are scarce and limited. People face trade…

Q: WHAT is an allocation of resources such that no person can be made better off without making another…

A: Allocation of resources refers to the distribution of productive assets among various purposes.…

Q: Which is an example of complementary goods? A. laptops and shampoo B. margarine and butter C.…

A: Complementary goods are those goods that have inverse relation that is when price of one good…

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: According to John Rawls, the welfare of society only depends on the welfare of the  ------------…

A: When talking about the theory of John Rawls on the social welfare, it can be said that he beleives…

Q: How the time affects supply, perishable Goods and how it affects the reproducible goods?

A: After harvest or manufacturing, perishable goods such as fruits and vegetables, dairy, fish, and…