In economics what is the meaning of macro-economics? Define positive economics and normative economics. What is economic freedom? And how is it related with the measure of the economic well being? Explain the meaning and significance of the economic theory of the following statement: "There is ...
Economic Surplus Definition & Graph from Chapter 10 / Lesson 13 24K In this lesson, learn what surplus is in economics. Understand how economic surplus arises and understand the two types of surplus: consumer and producer. Related to this QuestionDefine...
Can marginal utility be positive or negative but not zero? A consumer's utility is a function of consuming two commodities x and y: U = 12 x - y^2 + xy He faces a budget constraint that x + y = 100 This consumer wants you to help him maximize his utility. In ...
For instance, at the purchase stage, current and potential customers expect a smooth and efficient process. By offering incentives like free shipping or exclusive discounts, you can impress them and create a positive impression. Clear and concise communication and timely updates on the purchase status...
Workplace ethics are relevant in every industry. Whatever line of business you’re in, ethics will come into play at some point – in big or small ways. When it comes to employee experience, workplace ethics are linked to some of the most important drivers of positive outcomes, liketrust ...
that intermediate shaded cocoa agroforestry systems with a diversity of shade trees will limit the outbreaks of termites. The intermediate shaded systems provide agroforestry products that offset marketable yield loss due to termites with positive impacts on income and the sustainability of cocoa ...
- The positive externality .Market Failure:A market failure is an economic concept that shows the lack of efficiency in the allocation of scarce resources. Therefore, governments should monitor the market failure to correct them with different government instruments such as taxes and subsidies. One ...
Suggest a solution to the externality problem in each of your examp Define: - Externalities. - The positive externality . Explain why cost-effectiveness is a desirable attribute of an environmental policy instrument...
In economics, the cost is defined as the amount payable to have any services or goods. In other words, it is the financial valuation of risks, resources, and utilities that are consumed to buy services and goods.Answer and Explanation: ...
A) Define economics. B) Define scarcity. C) Give three examples of scarcity. Explain why these items are scarce. Business Terms: Various terms are used to elaborate on major business activities in the business world. The term used largely depends on the ...