Mr. Tahir wanted to take his family on a holiday. There are three members in his family. Two members opted for Salalah and one member opted for Sohar. Based on his family preferences, he selected Salalah as his holiday destination. Which approach best describes his action? a. Deontological Approach b. Utilitarian Approach c. Virtue Ethical Approach d. Fairness Approach

Q: positive or normative.

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Liberal view, which prevails in economics education today, ......... choose one or more a) society…

A: Social economics in recent liberal times being an important branch of economics and social science…

Q: What is principle of utility in ethics? and according to artistotle, why should you be a virtuous…

A: Utilitarianism: Utilitarianism is a group of ethical theories that promote actions that maximize…

Q: The opportunity cost of an action is a) the money that you pay take it b)the Value of the best…

A: ‘Opportunity cost’ is what one must give up to get something. Simply speaking ‘Opportunity cost’ is…

Q: What causes market imperfections? Give 2 examples.

A: The following problem has been solved as follows:

Q: What can be observed in the statement? Provide examples and alternative solution for it

A: The markets are the place where the buyers, and the sellers of various goods, and services tend to…

Q: What we can conclude from the Consumption and Islamic Moral Principles in Islamic Economics?

A: Consumption may be defined in a variety of ways, but it is best characterized as an individual's…

Q: If behavior is governed by rational self interest why do people make charitable contributions of…

A: Rational self-interest doesn’t mean pure selfishness and greed. It is not blind materialism. It…

Q: oDescribe 3 ways in which human decisions making differs from the rational individual conventional…

A: Behavioral economics is an approach towards economics which includes the psychological, communal,…

Q: Which of the following is a positive statement? large inequality in society should be avoided…

A: There are two types of statements: Normative statement and positive statement.

Q: nomists build models that abstract from the complexities of reality primarily because.. a. They…

A: Models in economics use data based analysis to estimate relationships between various economic…

Q: Do business people have a special obligation to give some of their money to charity? What famous…

A: Business ethics is a subset of applied ethics or professional ethics that looks at ethical…

Q: A rational person will a) never make mistakes in choices. b) select the choice where the expected…

A: A rational individual has the ability to use all the relevant pieces of information to reach a sound…

Q: Which of the following are systematic errors?…

A: Error in economics means behaviour of the person that diminishes the probability of attaining his…

Q: Give 5 benefits of why frugality is important

A: Selecting quality over money, or not spending money at all, is part of being thrifty. You'll have…

Q: Which quote best represents a person performing a cost-benefit analysis?

A: Since you have posted multiple questions, we will answer the first question for you. If you want any…

Q: 1.Give an example of some actionthat has both a monetary and non monetary opportunity? 2.describe…

A: Trade-off is a situation in which quantity of some goods are given up in order to gain quantities of…

Q: Timothy receive $100 on his birthday. He wants to buy either a new skate board or a new mp3 player…

A: In a market, action and decision of the market participants belongs to some of the core economic…

Q: examples of personal decisions (could range from small matters to big life-changing decisions) in…

A: A way the world tends to look, analyze and work by comparison of the costs of an action with the…

Q: Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player…

A: We only answer one question so we will answer the first one. Please submit a new question specifying…

Q: LeBron James is making an ethical decision. He wants to make sure he is fair and impartial to all…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 1. Implementation and enforcement of the seat belt law have resulted in an increase in the number of…

A: implementation and enforcement of the seat belt law have resulted in an increase in the number of…

Q: Explain the following. 1.people care about the fairness of economic outcomes. 2. People can be…

A: 1.People care about the fairness in economic outcomes because people offer their labor power in the…

Q: Which choice could help a student prove the claim made in Document B? 1. Statistics indicating a…

A: Prices refer to the amount that consumers in a particular market are willing to pay in exchange for…

Q: If a politician says that she thinks that healthcare is a basic human right, she is make a ...…

A: Positive statement is the statement that tells as it is. For example, the inflation in the economy…

Q: 2. Most governments have a policy of not negotiating with kidnappers but relatives of kidnap victims…

A: When two or more people are doing economic activities, their decisions are based on some core…

Q: HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San…

A: Opportunity cost is defined as the forgone benefit that would have been possible from an option not…

Q: 3. Too many cooks spoil the broth which core principle is represented in the scenario (if any)…

A: This law states that when the input of labor is added to the fixed factor then initially total…

Q: Give an example of a government law or policy that affect individuals’ religious decisions. State…

A: Government law or policy that is likely to affect individuals religious decisions has been…

Q: choose the correct answer: Question: Whose classical philosophic idea translates the intention to…

A: Option A Socrates

Q: Rational behavior can be applied to  a) individuals  b) politicians c) government officals d)…

A: Rational behavior explained as a dynamic cycle that depends on making decisions that bring about the…

Q: Give the Examples of benefit-cost analyses?

A: Benefit-cost analysis is a process used by the business to analyze the decisions and to choose the…

Q: Describe the Rational Decision making Process?

A: Rational decision-making is a multi-stage process in which alternatives are selected. The objective…

Q: 3 Ways in which human decisions making differs from the rational individual

A:

Q: someone can enjoy the benefits of the good without bearing the costs.

A: Option D  That is someone can enjoy benefits of the good without bearing the costs  Free rider…

Q: Political values are important because individuals often use values to Select an answer and submit.…

A: A political belief suggests how politics should work. The political culture explains how citizens…

Q: Question-2 Explain by applying these concepts with examples. 1. Rational people respond to…

A: Clarify by applying these ideas with models. 1. Rational individuals answer to motivating forces 2.…

Q: What amount of questioning (if any) should we have concerning our moral beliefs? are there…

A: Moral beliefs associated with the queries that what's correct per ethics and what's not correct.…

Q: Question attached

A: Economics: It is a sociology worried about the creation, appropriation, and utilization of products…

Q: Which is positive statement and explain

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Question 17: For economists, human behaviors influence the choices people make to fulfill their…

A: There are unlimited human wants,but resources are scarcE Thes wants arise due to human desires

Q: Why socio-economic issues the people’s top concern in an economy are?

A: socio-economic issues The socio-economic issues are the problems the economy is facing. They have…

Q: Discuss the principles of individual decision making with examples

A: People continuously make decisions. Their behavior determines the behavior of the economy as the…

Q: 1. It is the wise use of money and time a) Economics c) Goods and services b) Probability d) None of…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Analyze the given text, then make a decision. Be sure to give logical reasons for your decision.…

A: The region, although is rich in natural resources, suffers from a dismal economy, with half of the…