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When is the economic theory useless?
One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they think assumptions imposed into the theory are unrealistic. Actually, no theory, whether in physics, economics or any other science, is completely accurate. The validity of a theory based on whether or not this succeeds in explaining and predicting the set of phenomena which this is intended to describe and predict. Therefore theories are incessantly tested against observations. Like a result of this testing, they are frequently modified, refined, and even discarded.
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
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What happens to the market for cchicken wings if the price of beer increases?
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