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In markets economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the diference?
You read in a business magazine that computer firms are reaping high profits. Assume that the computer market is perfectly competitive.
Why do people routinely stuff themselves at all you can eat buffets Explain in terms of both utility also demand theories.
Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price.
Changes in disposable income affect government purchases and the government purchase function. How do changes in net taxes affect the consumption function.
Illustrate what is the name of this type of industry. What is firms and concentration ratio.
Illustrate what do you think causes changes in each of the expenditure (spending) components of GDP thereby causing changes in our economy's output, employment, and income levels.
Assume that health insurance begins to cover hip replacement surgeries that everyone interested in getting a hip replacement has health insurance.
Explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.
Explain why do you think maximising sustainable yield is often suggested as the appropriate goal of fishery.
Elucidate how and why the unemployment rate fluctuates with the inflation rate as is depicted in the Short-Run Phillips Curve.
Illustrate what is the individual's optimal consumption in each period. Explain how much saving does he or she do in the first period.
For several months before your vacation trip to Germany you find out the exchange rate for the peso has increased relative to the euro.
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