multivariant manipulatable predictive retrospective

Q: What examples do you have of goods and services that were once luxuries, which have become…

A: Luxury goods are those whose demand increases as people's income increases.

Q: What will be produced in economic and how it will be produced?

A: The economic questions arise because of the scarcity of resources and the unlimited wants. Economies…

Q: Economics affects nearly everything we do in some way. Someone else has produced most items we…

A: According to economists, the pricing of some goods/products is extremely/highly inelastic. That is,…

Q: Economics MOST broadly includes anything related to a. national economies b. decision-making c.…

A: Economics is far more than money. It's all about balancing the pros and cons of various options. The…

Q: Write a summary of the fundamental concepts of economics.

A: The objective of this question is to provide a summary of the fundamental concepts of economics.…

Q: what will be a good example a person participated in goods, labor, and financial markets.

A: Goods market is the one in which the goods and services are sold by the firms to the households.…

Q: Write a positive statement and a normative statement about your favorite hobby.

A: Positive statements are those statements in which we can answer with 'yes' or 'no' replies, whereas,…

Q: what does reading shakespeare or dostoevsky add to an economics student?

A: Using the work of Shakespeare , traces of economic literary criticism to its cultural and historical…

Q: how the global economy works

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

Q: What items would you include to figure out the opportunity cost of a vacation to Disneyworld?

A: Ans. To figure out the opportunity cost of a vacation to Disneyworld : 1. Direct Costs:Travel costs:…