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Critically evaluate this statement: “The trouble with economic theory is that it is not practical. It is detached from the real world.”
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
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- The opportunity cost of a transaction is the profit you must give up to pursue it. What are two examples from the business world that illustrate this truth? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Answer each question using only the correct option from the drop box provided. Also, explanation should also be from the options available only.MODIFIED TRUE or FALSE. Write “T” if the given statement is TRUE, correct and valid. Write “F”, if otherwise. If your answer is either “T” or “F” explain, why is it true or false. Cite a theory, use a formula or graph to support your answers. 1. Microeconomics is a branch of economics that deals with the decisions of individual households and firms. 2. Economic model is an abstract representation of the “unreal world” phenomena that one wishes to examine. 3. Economic model can be expressed to an equation holding other variables to be constant. 4. Independent variable or the explanatory variable (in an economic model) is the variable that provides the explanation for any change(s) in the response variable. 5. Points below the Production Possibility Frontier or PPF are the choices of the society that are infeasible due to its limited resources.
- Read over these resources for writing good introductions and conclusions. t, revise the introduction and conclusion using what you've learned. But remember--you may NOT use the internet to find information. Use your own experience and knowledge. For this,write a few sentences about how you used the resources to revise your draft. Introductions and Conclusions--LARC : https://www.grammarly.com/blog/start-an-essay/ Introductions from Grammarly : https://www.grammarly.com/blog/start-an-essay/ Conclusions from Grammarly : https://www.grammarly.com/blog/how-to-write-a-conclusion/?gclid=Cj0KCQjwkt6aBhDKARIsAAyeLJ23T6pYsFTrmPFi6_R-EKRAFxRNyoXR9RujMH573K3WFks_fwGChdAaAmOHEALw_wcB&gclsrc=aw.ds Working part-time at my local Dairy Queen has given me firsthand experience of the challenges associated with a $9 /hour wage. Despite putting in 36 hours (about 1 and a half days) weekly, the paycheck hovers around $250-$260, highlighting a stark economic reality. This scenario underscores the…Please answer all three in detail.. pleasePlease explain briefly that why the answers are true or false. Question attached
- (a) Rank the three economic variables from most important to least important.Provide one relevant reason to justify your selection for each of the threepositions.4 The conventional view that economics takes on cheating is that one decides to cheat when there is a positive economic rent to reap from cheating. Choose an action that is identified as ‘not okay’ from the Academic Integrity Module you completed on iLearn. Do the following: • Analyse the economic cost and benefit of knowingly taking the academically dishonest action of your choice.“Economics should be the preserve of only finance students. For me as a management student, it is much ado about nothing. Why should I be concerned with economics?” These are the words of a first year HND Sec and Mgmt. student contemplating on the relevance of economics. As aseasoned scholar how would you address the concerns raised? Justify your position with four (4) points.
- Please solve this question given in The picture. Mathematically?Explain some usual critics of economics: bias toward market-based solutions, cannot be properly tested, failure to predict. Typed answer please. Don't copy..I need non plagiarised answerdescribe at least one opportunity cost when you decide to do the following ride the bus instead of driving the car Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
