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Economics; Different Perspective
? Economics is the knowledge of the choices taken by people who are faced with scarcity.
? Scarcity is a condition in which resources are restricted but can be utilized in various ways; so one good or service should be sacrificed for the other one.
Society’s Choices
? The decisions of consumers, producers, and government decide how an economic system answers 3 fundamental questions:
1. What products do we manufacture?
2. How do we manufacture these products?
3. Who consumes or intakes the products?
discuss scarcity,choice and opportunity cost
negative slope on ppf represents what?
It is also known a sleadig indicators forecasting National Bureau of Economic Research of U. S.A has identified three types of indicate Leading indicators coincidental indicators a
what is equilibrium
a description of engineering production function
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
net preparation ranjna baghel
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
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