Microeconomics (microeconomics), sometimes known as the price theories (price theory), the main individual consumers, the economic behavior of enterprises, or industries, and their production and income distribution. 翻译结果2复制译文编辑译文朗读译文返回顶部 ...
aMicroeconomics is concerned with the behavior of individual entities such as markets , firms,and households Macroeconomics views the performance of the economy as a whole . Through all economics,beware of the fallacy of composition and the post hoc fallacy.and remember to keep other things ...
A is correct. Nominal GDP is defined as the value of goods and services measured at current prices. Expenditure is used synonymously with the value of goods and services since aggregate expenditures must equal aggregate output of an economy. ...
( ) A because they are in finite supply. B because they are in finite demand. C only if the resources are nonrenewable. D because they are in infinite supply. 第3题 Economics is best defined as the study of ( ) A how society manages its scarce resources. B how to run a business ...
As per the chapter of class 11 Introduction to Microeconomics, Production Possibility Curve or PPC is a concave curve that shows all the possible combinations of the set of 2 goods produced in an economy. PPC is also known as PPF or Production Possibility Frontier. It tells about the goods ...
1.4 Lexicographic ordering Lexicographic ordering is also known as lexical order, a mathematical concept that supports the assumption of continuity. It works with a numerical representation of consumers’ preference ordering. Sometimes, the numbers are not true because they are individual specific ordering...
Deadweight loss can also be referred to as “excess burden.” Allocative Efficiency Allocative efficiency is the level of output where the price of a good or service is equal to the marginal cost (MC) of production. Allocative efficiency is achieved when goods and/or services are distributed ...
Since macroeconomics deals with the country’s economy, it tries and directs to achieve equilibrium at a total demand and supply level in the economy. This model is known as the AD-AS model. It gives us the price level as well as the real output levels at which aggregate demand and aggr...
Microeconomics is the study of what is likely to happen—also known as tendencies—when individuals make choices in response to changes in incentives, prices, resources, or methods of production. Individual actors are often grouped into microeconomic subgroups, such as buyers,sellers, and business ow...
Microeconomics is the study of what's likely to happen when individuals make choices in response to changes in incentives, prices, resources, or methods of production. These scenarios are also known as tendencies. Individuals are often grouped into microeconomic subgroups such as buyers,sellers, and...