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What is economics about?
Economics:
Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like consumers, firms and government agencies, create trade-off choices which allocate restricted resources with competing uses.
People’s desires are infinite, but resources are inadequate, thus individuals must make trade-offs. We require economics to study this basic conflict and how these trade-offs are best made.
ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re
Discuss the possible solutions for private solutions (Coase Theorem) Question 8: Demand: P=100-Q Supply: P=Q MEB= 10 Discuss the possibility of over or under allocations of reso
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. The narrowness of the definition of the commodity
Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci
1) The $787 billion stimulus package, "American Recovery and Reinvestment Act" passed in Winter 2009 contained a mix of tax rebates, tax credits and increases in various transfer p
the law diminishing marginal utility explain through flow chart
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Market-Friendly Reforms: One main shortcoming of present development cooperation is that recipients of development cooperation is that recipients of development finance are d
Human numbers grew as the population after 1800 After 1800, human numbers grew as the population explosion took hold. It carried our entire population to 6 billion in October 1
Use of ppc in microeconomics
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