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Card 15 / 18:
deadweight loss
the loss in social surplus that occurs when a market produces an inefficient quantity
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Questions & Answers
what is the law of diminishing marginal utility
what is a columnist
Owusu
what are the four basic assumptions of perfect competition
There is a well known maximum by economic that states that the birthd of money is the deaths of batter system discuss the statement
how does price elasticity increase
Real GDP is a way of adjusting our output calculations for inflation so that we can see group interms of physical production quantity
Minalu
Real gross domestic product is a macroeconomic measure of the value of economic output adjusted for price changes. This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output
amisha
Economics is the study of human behavior between scarcity and want.
Vincent
economics is the study of man and his behaviors
toheeb
ECONOMICS IS THE STUDY OF,HOW HUMAN BEINGS MADE DECISIONS IN THE TIME OF SCARCITY.
Bakshi
According to Professor Lionel Robbins" Economics is a science which study human behaviour as a relationship between ends and scarce means which have alternative uses".
Paul
According to Adam Smith, "Economics is a science which inquired into the nature and cause of wealth of nations. "
Tannu
economics is a science that studies human behaviour as a relationship between ends and scarce means which have alternative uses
Efua
a consumer has income of$3,000 wine is price at$3 a glass and cheese is price at$6 a kilo.draw the consumer's budget constraint . what is the slope of this budget constraint
by scientific method we mean
Inductive and deductive method
Bethuel
when are producers willing to supply more goods and services in the market?
think about the essential goods that you need "on daily basis" .Are they really all essentials ..Could you live without some of them?
Ivan
Economics is a science which studies human behaviour as a relationship between ends and scarce which have alternative uses
Tannu
Whn demand of resources and more then it's availability or supply.
Abhishek
when there's less resources
Maybrien
scarcity is a situation where resources are not enough to satisfy all wants
Efua
types and characteristics of inflation in South Africa
Source:
OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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