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What is the primary external input into the broader ecological circular flow model?
Question 18Select one:
Pollution
Solar energy
Fossil fuels
Geophysical cycles
Factors of production
Step by step
Solved in 3 steps
- Explain Ecological Models and also define simplifying assumptions to construct such a model ?List and discuss three of the better known normative standards income distribution.b. What is the difference between positive and normative analysis? Which of the following statements would entail positive analysis, and which normative analysis? i. Internet auction companies will erode the profits of local automobile dealerships. ii. The government should impose special taxes on sales of merchandise made over the Internet. c. Why is the circular flow model important?
- Exaplain the difference between normative and positive economics. Give examples of normative and positive statements related to environmental goods and services?Formalist definition ofo economics a)treats scarity as a universal reality. b)assumes that people may not always pursue their own interests. c)takes into account the effects of power relations,social classes and institutions d)starts out not from individuals,but from the choices that are determined by society.Question #2. Attached (below) is a diagram of a bio-economic model reflecting the relationships between the biological growth of a stock of fish and three different rates of harvest—H1, H2, and H3. In this model, dX/dt=F(X)—the change in the stock with respect to time and biomass— is captured in the parabola. Use the diagram to answer the following questions. On the diagram, the point A refers to a specific and important biological point on the growth curve. What is this point and what is its significance? On the diagram, the point B refers to a biologically important value. What is this value and what is its significance? Consider point C on the diagram. Assume that the stock of fish is just to the right of this point, but still to the left of B. Assume the harvest level is maintained at H3. Over time, what would happen to the stock of fish and the size of the harvest? Consider point D on the diagram. Assume the stock of fish is just to the right of D but still to the left…
- Explain the difference between positive and normative analysisThe emergence of Covid-19 should affect developing countries more adversely than technically advanced nations such as the United States. This statement is best described as a. a normative statement b. a theoretical statement c. a positive statement d. a microeconomics statementDomination of nature approach a)is started to be replaced by the eco-centric approach b)is changing in the face of increasing natural disasters. c)have decreased global warming d)has seen nature as the source of profits.
- 1.1 Discuss how the production possibility frontier model can be used to illustrate thebasic economic problem of scarcity.Explain the difference between positive and normative analysis. Provide an example of a normative statement or an example of a positive statement from a recent news story.Which of the following is a normative economic statement? a. If we doubled the size of welfare payments, we would reduce the number of homeless persons. b. Companies should be concerned with more than just their profits. c. An increase in spending on airport security will reduce the number of hijackings. d. If social security were to be privatized, workers would earn a higher rate of return on their retirement contributions
