Define the following term: Normative economics. Define economic costs. What is the definition of macroeconomics and microeconomics? In terms of microeconomics, what is a simple definition of Net Economic Value? Explain the term "receivership" as it relates to economics. ...
Define the term "behavioral economics" and explain how it is applied to consumers in the study of economics. Define the following term: Normative economics. What is the definition of macroeconomics and microeconomics? What are Labor Market Theories? What do they explain? Briefly describe the term...
Therevelation principleofeconomicsis that truth-telling, direct revelation mechanisms can generally be designed to achieve the Bayesian Nash equilibrium outcome of other mechanisms; this can be proven in a large category of mechanism design cases. Put into other words, the revelation principle holds th...
Positive economics b. Normative economics Define the following term. financial risk Define and explain cost of preference capital. How do we define fixed and variable costs? Define the terms listed below AND list an example: 1. Breakeven point 2. Internal rate of return 3. Present value ...
Explain the difference between positive and normative economics and how this affects ethical decision making. 1) What impact does a compensating balance requirement have on the cost of borrowing from a bank if the firm generally holds little or no checking ...
Select one of the normative Theories of Business Ethics (either Stockholder Theory, Stakeholder Theory or Social Contract Theory) and describe the basic tenets of the framework and explain how it can 1. Why is using Bayes theorem important to...
Define the following term: Normative economics. Relating to economics, describe the term "term loan." In economics what is the meaning of macro-economics? Define ''economic model'' and explain its importance in economics. Give the definition of macroeconomics and microeconomics. In business economic...