Trade will occur when a. both parties will benefit b. one party will benefit more than the other c. no coercion is involved d. an absolute advantage exists e. no comparative advantage exists е.

Q: Explain why economics is so cool

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

Q: Is economics a science? Why, or why not?

A: Economics is related to the production, distribution, and consumption of goods and services.…

Q: Is Economics a science? Why, or why not? As part of your response and explanation, include the…

A: The question is asking whether economics can be considered a science, and it requires an…

Q: what is the difference between a positive statement and a normative statement?

A: According to economists, there are two types of activities within an economy. On the one side, there…

Q: I need to find a normative statement on an economic issue from a politician or political action…

A: Positive and normative economics have differing perspectives on economic problems. Positive…

Q: What good is economic theory if it can't predict the behavior of a specific individual?

A: The economic theory are the simplification of the economic realities which are used to make the…

Q: Economics is a discipline that is divided into two broad branches, which are they?

A: Economics, as a social science, concentrates on how individuals, states, firms, and nations make…

Q: Why will economics never be an exact science?          No sciences are exact.…

A: The question is asking why economics, as a field of study, cannot be considered an exact science.…

Q: Base on your understanding illustrate what is economics

A: Similar, to other social branches of social studies, such as politics, geography, and history,…

Q: Which three key questions do economists try to answer?

A: Economists try to solve various problems existing in the economy.

Q: The fundamental reason to study economics is to study ____.     how choices are made     how…

A: In the world, people has unlimited wants, but the resources to fulfill these wants are limited. It…

Q: Share your views on the idea that economists make assumptions in order to make the world easier to…

A: Economist use assumption to make complex things into simple. Economics is a social science and…

Q: Why is it important for us to use models when studying economics?

A: In economics a Model is defined as a theoretical construct which represents the economic processes…

Q: What is economics and why is it a relevant subject?

A: Economics is the study of putting the scarce resources to the best possible use that would increase…

Q: If economics is a positive science, why do economists always disagree

A: Let’s see it with an example, suppose a nation has a high unemployment rate. The government…

Q: What is economics most concerned with? keeping interest rates low O making money allocating scarce…

A: What is economic most concerned with.

Q: Why economics is a relevant subject, and why it's important?

A: Economics is an important subject for individuals, societies, governments, businesses and…