Economics is best defined as the study ofa. how society manages its scarce resources.b. how to run a business most profitably.c. how to predict inflation, unemployment, andstock prices.d. how the government can stop the harm fromunchecked self-interest.

Q: COVID has badly affected the world economies. Most of the countries are reporting a significant…

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: Rwanda has built the world’s first commercialized drone highway, capable of delivering supplies to…

A: Rwanda has built the world's first commercialized drone highway.

Q: Individuals make trade-offs to a. determine economic values b. cooperate with others c. minimize…

A: Trade off is exchanging something of value. It is kind of relationship between two parties who…

Q: Blue Economy means Select one: a. protecting shorelines and marine life. b. protecting urban…

A: Economy A country's economy includes all actively involved in the creation, distribution, trade, and…

Q: When economists are trying to help improve the world, they are Select one: O a. policy advisors O b.…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: All people in any country can get resouces that will make their lives better or have to have to…

A: Resources are the factors that are used to produce or manufacture goods and services.

Q: How does economic course differ from energy economics? a. Energy is relatively scarce unlikely…

A: Energy economics is an expansive logical branch of knowledge which incorporates points connected…

Q: Which of the following is not correct about a socialist economic system? a. Absence of Economic…

A: Socialist economic system: Socialist economic system is a type of economic system in which all the…

Q: Economic models are BEST described : as a. realistic b. ораqие с. ехact d. simple e. rigorous

A: Economy refers to the system in which the production and consumption activities are interrelated and…

Q: In economics, cost is and benefit is a. the amount of money that you pay for something; the amount…

A: Economists are eager in finding out how the resources are allocated or how optimization of resources…

Q: Magical Realism uses the supernatural as а. An alternative world to escape to from the boring…

A: Magical realism is a branch of literature that portrays the magical or supernatural world in such a…

Q: The government will not set artificial rates on products.

A: In case of a market failure, the government intervenes in the market and sets an artificial price in…

Q: Fill in the blanks using the number that correspond to the correct word or phrase in the word bank…

A: We know that in this world resource is limited, and economics is all about the study and allocation…

Q: What causes market imperfections? Give 2 examples.

A: The following problem has been solved as follows:

Q: Homesteaders who moved west to settle on free land found that a.the land was lush and fertile for…

A: When talking about the movement of homesteaders to the west, it is the situation during civil war.

Q: The study of economics uses scientific methods, but it is NOT a laboratory science. Instead, it is…

A: Financial matters is a scholastic discipline that examines how social orders use assets to create…

Q: Ramesh is a shrewd businessman. He buys gold during the off season, when it is cheap and then sells…

A: A speculator who buys large quantities of a commodity in the hopes of profiting from future…

Q: The main incentive for an individual to start a business is usually A consumer demand. B C a profit.…

A: Any organization or economic entity that engages in the trade of goods or services with the…

Q: Which one of the following occurs in capitalistic economy? a. Means of production are owned by the…

A: Capitalism is defined as an economic system which is characterized by private ownership of the means…

Q: QUESTION 1 Economics is the study of: a. how to make workers more productive and firms more…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 25. COVID has badly affected the world economies. Most of the countries are reporting a significant…

A: Microeconomics:-  Microeconomics is that part of economics which is concerned with the behavior of…

Q: Loan applications require a lot of information from applicants to avoid Group of answer choices A.…

A: Answer: The problem of Moral hazard occurs when a party can increase its exposure to risk because it…

Q: Lifestyle is a strategy to promote a product to make consumers to believe that the new solution,…

A: Lifestyle is a strategy to promote a product to make consumers to believe that the new…

Q: Economics is best defined as the study of how a neonle make desisiona in n rld

A: Mainly, there are two branches of economics. 1. Microeconomics  2. Macroeconomics

Q: Microeconomics is concerned with issues such as O interest rates. O which job to take. O inflation.…

A: Microreconomics and macroeconomics are two branches of economics. Microeconomics studies the…

Q: Differentiate between the monetary policy recommended by the Canadian monetarists and the current…

A: Canadian monetarists recommend that interest rate should not be lowered to a great extent and money…

Q: According to Leonel Robbins, economics is the science of __________. a. Growth b. Scarcity c. Wealth…

A: Economics is the study of the ownership, use, and exchange of limited resources, or the science of…

Q: Positive economics is: a. An investigation or statement that attempts to examine or understand how…

A: Positive economics is a stream of economics focused on identifying, quantifying, and explaining…

Q: The way in which economists' thinks is influenced: Select one: a. Wealth b. Opportunity cost c.…

A: A financial pointer is a piece of monetary information, ordinarily of macroeconomic scale, that is…

Q: Reading Comprehension A.    In most countries, the governments spend a lot of money on education.…

A: Answer: Correct option: d (Promoting higher education) Explanation: The whole paragraph i.e. E…

Q: Contingency planning involves a. identifying aspects of a business that require changes in…

A: A contingency plan is a strategy created to assist an organisation in effectively responding to a…

Q: Draw and explain the circular flow chart of  decision makers’ choices and the way those choices…

A:

Q: The most fundamental economic problem is _________ . a. Security b. Scarcity c. Health d. None of…

A: The most fundamental economic problem is scarcity. Hence, Option (B) is the correct answer.…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Economics should be considered as the study of how a society allocates limited resources. This field…

Q: Which of the following is an advantage of socialist economy? a. Economic stability b. Bureaucratic…

A: In the socialist economy, goods and services are solely produced for the consumption purpose. All…

Q: Scarcity Implies? a. there isn't an opportunity cost b. there will be shortages.  c. there will be…

A: In Economics, scarcity implies the limited availability of resources. It refers to the gap between…

Q: Which of the following scenarios involves a value judgement? a. What do prices represent in a…

A: Answer- Need to find- Which of the following scenarios involve a value Judgement  Evaluating the…

Q: State whether the following statements are true or false  a. In a pure ‘planned economy’ the market…

A: a. One individual or organization that regulates what is generated has a strictly organized economy;…

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.