s the opportunity cost of attending the class the same for each of the 30 students? Why or why not?

Q: what is the potential opportunity cost of watching a lot tv show.

A: If a lot of television is watched, then it reduces the time available for other activities, for…

Q: Suppose you buy Economics by David King. What is the opportunity cost of your purchase? O a) The…

A: Opportunity cost is a fundamental concept in economics that alludes to the cost of forgoing the best…

Q: Explain why economics is so cool

A: Economics is a study of human behavior that helps to understand how individuals satisfy their…

Q: What is an real-life example of a opportunity cost?

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: What are three textbooks definition of economics?

A: Economics is a science that studies the efficient production, allocation, and distribution of scarce…

Q: Brinley says that "gas prices are rising because there aren't enough oil refineries." argues that…

A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…

Q: a. People have limited incomes and unlimited wants and desires. How will you define economics in…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: What are normative economics

A: There are two parts of Economics positive economics and normative economics. Positive economics…

Q: What is normative statement, explain with an example?

A: Economics is based on two concepts wherein the theoretical part is divided into positive and…

Q: Importance concepts of economics?

A: The important concept of economics are Market interest:-  It is one of the essential financial ideas…

Q: What is the difference between positive and normative economics? Why are positive questions easier…

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

Q: What is opportunity cost and what is its significance. In my homework .

A: Opportunity cost refers to the usual cost next best foregone. It is the cost of something that has…

Q: What are the three diverse exercises of subject of economics?

A: Amartya Sen has given three diverse exercises of subject of economics.

Q: Analyze the positive versus normative arguments in the following case. Give an example of positive…

A: A positive statement states a fact. In this case the positive statement could be: ‘Air Bags add an…

Q: Describe scarcity an explain how is thinking like an economist help when faced with scarcity

A: The study which includes a discussion about the scarce resources and their efficient allocation…

Q: What could be the major learnings that could developed by taking a introductory microeconomics…

A: The Microeconomics is an economics that deals to satisfy an individual producer, an individual…

Q: ow do you define opportunity cost

A: We can characterize opportunity cost as the potential advantages that are lost when an individual,…

Q: What is the opportunity cost of attending the current course (economics)? Discuss how you arrived at…

A: OPPORTUNITY COST can be defined as the loss of choosing something as you sacrifice something to…

Q: QUESTION 10 Which of the following is normative economics form? Government should provide basic…

A: The branch of economics that deals with value judgments, opinions, and subjective analysis is known…

Q: What is a good way to calculate opportunity cost?

A: Opportunity costs is the next best alternative. It is what you give up when you choose one from the…

Q: what is economics and what are its branchs? what is the advantage of studying economics? how…

A: The term economics has its root from the Greek word "Oikonomia" which means to manage a household.…

Q: 01 LessoI: 01 Basic Economic Problem Graphic Organizer 1 2 3

A: “An economic problem is basically the problem of choice” which arises  due to scarcity of resources…

Q: Joel can prepare 8 meals or wash 24 shirts in a day, Patricia can prepare 6 meals or wash 12 shirts…

A: The opportunity cost is the cost of next best alternative forgone while making choice. In other…

Q: What is a trade off? How does economics decide on what must be produced? What is an opportunity…

A: Answer: What is a trade-off? Trade-off: trade-off refers to the situation where one choice or good…