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Q: Please provide an example showing the use of Econometrics for a specific economic concern.

A: Concept: Econometrics is very much the quantitative implementation of mathematical and statistical…

Q: What are some deficiencies of the capitalist model?

A: Capitalism governs most of modern Western life. Private property, private ownership of the factors…

Q: Paying for snekers using a credit card is an example of a person borrowing

A: Income and expenditure do not remain the same over the time period. Over the time period, the income…

Q: How is the father of economics

A: Economics is a study of social science which allocates the limited resources to the unlimited wants…

Q: Why do Economic agent make decisions at the margin

A: It is very important that decisions are made at the margin. Economic agent take risk factor and…

Q: Putting Virtual Reality on the Market: Is It Possible?

A: virtual reality markets include brands advancing themselves and their items by utilizing virtual and…

Q: In what way does strategic decisions different from other kinds of corporate decision?

A: 1. Strategic management is pretty important in today's corporate world as it allows corporations to…

Q: Exercise 2.1. Amy and Bill simultaneously write a bid on a piece of paper. The bid can only be…

A: Game theory is a branch of economics that deals with the study of strategic decision-making. It…

Q: are consumers who Ilke to avold changes and rely on traditional products untll they are no longer…

A: Continuous development of new items or upgrades to those currently on the market is a prevalent…

Q: Does energy independence increases or decreases scarcity.

A: Scarcity: The word scarcity refers to the situation when the availability of resources is not…

Q: how does scarcity affect enconomic decisions?

A: Scarcity implies that the demand for a good or service is more prominent than the accessibility of…

Q: there are 4,000 people that commute into a city each day. There is a local road that takes 30…

A: The Nash equilibrium is a dynamic hypothesis inside game theory that expresses a player can…

Q: When does a situation of benefit in BOP arise?

A: The country's international accounting transactions for a particular time period is termed as…

Q: What are transaction costs? How does opportunistic behavior tend to increase transaction cost?

A: Cost: It refers to the goods and services price that is charged by the producer. The more the cost…

Q: How does drug addiction affects microeconomics?

A: Microeconomics is one of the major branches of economic which is concerned with the study of…

Q: Hidden Valley has two nail salons, one owned by Pat and the other owned by Danny. Suppose that Pat…

A: Given; There are 2 nail salons in Hidden Valley. Pat and Danny have two strategy:-  1) To collude.…

Q: What will happen if there is no scarcity? Explain.

A: Scarcity is the basic problem of economic and it refers to the gap between the scarce – resources…

Q: Create a policy that would tamper the market failure.

A: Market Failure: Market failure is an economic situation that generally existed in the free market…

Q: The international terror campaign being waged by Al Qaeda has an underlying economic motive. T or F?

A: Terrorism is defined as the use of violence and fear to achieve an ideological goal in its broadest…

Q: What is the closest example to a command economy?

A: The communist society refers to the command economy. In a command economy, there is a monopoly that…

Q: Please relate the current Covid-19 pandemic issues to any concept in Microeconomics. You can answer…

A: The covid-19 affected several markets globally. One of the products that saw a significant rise in…

Q: Using game theory, explain why a park in a neighborhood with many long time residents is usually…

A: Game theory usually helps in analyse how the individuals react in certain situations, given the…

Q: Describe what economic incentives are

A: Economic incentives are financial motivations that influence the behavior of individuals,…

Q: Is it better to have a high or low dependency ratio?

A: A dependency ratio is a ratio that measures the age-population aged between 0-14 and above 65 that…

Q: Is communicative action a necessary part of strategic planning? Argue in a four-point.

A: There is no doubt that communicative action is a necessary part of strategic planning. Following are…

Q: strategies African countries to use to continue attracting FDI for the region

A: * ANSWER :-

Q: According to economists, people will do a particular activity only if the benefits are greater than…

A: As a rational people , everyone want to earn or get more and more satisfaction at minimal cost here…

Q: What are the characteristics of Western ethical ideologies

A: Ethical ideologies refer to the moral principles or beliefs that an individual or a group has about…

Q: Name two types of scarcity

A: The two types of scarcity are- Relative scarcity Absolute scarcity

Q: what are the reason of overdiversification

A: Diversification: It is a risk management method under which a mixed variety of investments are made.…

Q: Ann and Stella want to watch a movie together this weekend. There are 8 movies playing in theatres…

A: The objective of the question is to find out the total number of pure strategies that Stella has. A…

Q: Do contemporary capitalist economies work this per-fectly?

A: Capitalism, often known as the capitalist economy, is an economic system in which private firms…

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.