What role, if any, will marginalism, incentives, and disinterestedness play in the questions you ask and the inferences you make in determining whether or not an economic policy makes sense?

Q: What are the things that we can learned from Adam Smith's Wealth of Nation that related to modern…

A: Adam Smith is known as father of economics who gives a lot of theories related to economics which…

Q: If you are the employer of a business establishment, how will you apply utilitarianism using…

A: The utilitarian is used by the business firms to analyze and evaluate the decisions in light of its…

Q: Why should policymakers think about incentives?

A: The incentives refer to the extra income given to the people who had worked for additional hours. In…

Q: Does the economic model or socioeconomic model of social responsibility make more profits? And why?

A: ANS The economic model assumes that society will receive the most benefit when producers are left…

Q: Marx says ““it is not the consciousness of men that determines their being, but, on the contrary,…

A: Marx says ““it is not the consciousness of men that determines their being, but, on the contrary,…

Q: What type of economists believe that markets naturally self-correct, and will reward good strategies…

A: Laissez fair economics theory advocates non-government intervention in the economic activity.  They…

Q: Coke or Pepsi, in terms ofeconomics are

A: Coke and pepsi are the important players in beverage industry.

Q: Ways in which human decision making differs from the rational individual conventional economic…

A: The decision-making process of an individual that leads to maximum level of satisfaction or utility…

Q: what is the difference between a positive statement and a normative statement?

A: According to economists, there are two types of activities within an economy. On the one side, there…

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: What did mercantilism see as the economic goal for society? Why was poverty seen as essential?…

A: Mercantilism was an economic theory and practise popular in Europe from the 16th to the 18th…

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

A: The economic theory are the simplification of the economic realities which are used to make the…

Q: What do we mean by the economics of education? To what extent do you think educational planning and…

A: Educational planning and policy decisions need to be highly guided by economic factors such as…

Q: Would a good economic model be more likely to address a positive statement or a normative statement?…

A:

Q: Solve the attachment

A: Constrained choice happens when a financial(economic) agents must decide the ideal combination of…

Q: Do you think Pareto Efficiency is enough to explain welfare economics?

A: According to Pareto efficiency, it is not possible to increase one person utility or welfare of one…

Q: When looking at the economics of marriage, how would a functionalist theorist and a social exchange…

A: The structural functionalist point of view, marriage and family are an essential structure square of…

Q: Why economics is arts group

A: Economics is a social science as well as art which defines human behavior with the motive of…

Q: Positive or Normative?

A: Unemployment benefits are the benefits that the government provides to eligible unemployed people.

Q: A central idea of economics is that by observing changes in ________, we can predict how choices…

A: According to the economists, the choices that individual makes are rational and by rational choices,…

Q: Jim is at an all-you-can-eat buffet and is considering whether or not to get another plateful of…

A: Answer: Introduction of explanation: Marginal analysis is a method of making decisions based on the…

Q: Explain why scarcity and choice are the basis of economics.

A: Due to scarcity of resources, only a limited amount of services and goods could be produced in an…

Q: Why is economics a social science subject

A: Economics can be defined as the study of people, societies, government and the businesses and how…

Q: choose the correct answer: Question: Whose classical philosophic idea translates the intention to…

A: Option A Socrates

Q: Define positive and normative statements and give four examples of each.

A: Economics is a social science that is responsible for generating theories in addition to studying…

Q: Why must economic theories and models be abstract?

A: Economic theory is based upon the assumption that consumers and investors are rational and also…

Q: Schools of Economic Theory

A: Introduction: Economic theory is predicated on the notion that investors and consumers are rational…

Q: ________ can predict the Impact of an economic event on economic choices..

A: According to the given question The events which can be initially measured in the terms of money or…

Q: He described economics as a science of material welfare

A: To find : Who describes economics as science of material welfare

Q: Should an economic model describe reality exactly?

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: In his discussion with Mr. Strawn, Philip Dru agrees that in the present state, Marx's ideal cannot…

A: Marxist idea: It refers to the view under which the production of goods and services will take place…

Q: Choices that are the best for the society as a whole are choices in the pursuit of…

A: When everyone acts to maximize their own self-interest, social interest is maximized. So, when…

Q: WHY IS ECONOMICS RELEVANT VERSUS IMPORTANT?

A: Allocation of resources is the distribution of available resources and assets among various works…

Q: What are examples of society's widely accepted economic goals?

A: Economic goals: - Economic goals are the desired conditions of the people of a country which improve…

Q: What are examples of individual economic agents?

A: Economic agent is a person or an organization who acts as a decision maker that can influence…

Q: Do you believe that education serves primarily to increase human capital, or to serve as a signaling…

A: Most people are aware that the "college wage premium," or the additional income one might expect…

Q: Explain Economic and Social Disorder

A: In general, the term disorder is used to explain the situation of confusion when there is not a…

Q: How does marginality work in economics?

A: when we have two variables say x and y, the change in amount of x caused by one unit change in y is…