Why scarcity forces individuals to incur opportunity cost

Assignment Help Microeconomics

Reference no: EM13218539

a.)define the concept of economic models?

b.)define scarcity and choices and their relationship in the study of economics?

c.) why do economists disagree?

d.) Name and define economic resources or factors of production?

e.) why is money not capital

f.) explain why scarcity forces individuals to incur opportunity cost. Examples?

g.)Does minimum wage help the working poor?

h.) what are the opportunity cost of going to college?

i.) what is the concept of the production possibilities curve

Reference no: EM13218539

Questions Cloud

Calculate the de broglie wavelength : Calculate the de Broglie wavelength of the following: A proton with kinetic energy of 1 M eV.

Differences between leaders and team members : Discuss four principles for understanding workgroups based on Wilfred Bion's theory and describe three difficult stages for working in teams on task and psychological differences between leaders and team members.

Calculate the average seconds per day : Suppose station A and B are interconnected through two parallel unreliable links, where each link has a failure probability of 0.1. Calculate the average seconds per day when A and B lose communication.

Calculate the per unit resistance of this transformer : Efficiency in a power transformer is 98.6% when loaded such that its core losses equal the copper losses. Calculate the per unit resistance of this transformer.

Why scarcity forces individuals to incur opportunity cost : a.)define the concept of economic models b.)define scarcity and choices and their relationship in the study of economics c.) why do economists disagree d.) Name and define economic resources or factors of production

What are the extreme output voltage : It the resistors used are not ideal but have a ±5% manufacturing tolerance, what are the extreme output voltage and resistances that can result?

Sketch the output signal waveform : Assume that in addition to the sine-wave signal you have a dc reference voltage of 1.5 V available. Sketch the output signal waveform.

How much pat can recover from harry in monetary damages : Discuss how much, if anything, Pat can recover from Harry in monetary damages - Pat is able to find another job that nets a profit of $4,200 during that same time that Harry's house was to be painted.

Find the voltage gain realized : A transconductance amplifier with Ri = 2 kΩ, Gm = 40 mA/V , and Ro = 20kΩ is fed with a voltage source having a source resistance of 2kΩ and is loaded with a 1kΩ resistance. Find the voltage gain realized (from the source internal voltage to the o..

User Account

All Pages