Economics is the study of choices. Though some believe that economics is driven purely bymoneyor capital, the choice is much more expansive. If the study of economics is the study of how people choose to use their resources, analysts must also consider all of their possible resources, of whi...
This is one of the iron rules of economics. This law is used to show the behavior of producers when the price of goods and services are increased. Answer and Explanation: Become a Study.com member to unlock this answer! Create your account View this answ...
) One who keeps any law, custom, regulation, rite, etc.; one who conforms to anything in practice. Observer (n.) One who fulfills or performs; as, an observer of his promises. Observer (n.) A sycophantic follower. Observership (n.) The office or work of an observer. Observing (a...
The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially...