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Q: Describe the two types of economic analysis and explain at least three of the questions which each type of analysis attempts to answer?
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Can economic analysis provide a final answer to the question of whether the government should intervene in markets by imposing price ceiling and price floors?

Economic analysis cannot provide such an answer because it seeks to address positive questions such as "what is."


What is the term used to describe economic systems in which the basic economic questions are answered based on a socially pre-established way?

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What are the three basic economic questions that all economies must answer Describe the differences in the way capitalism and socialism answer these questions?

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When was Foundations of Economic Analysis created?

Foundations of Economic Analysis was created in 1947.


When was Bureau of Economic Analysis created?

Bureau of Economic Analysis was created in 1972.


What are The three pillars of economic analysis?

The three pillars of economic analysis are the choice, scarcity & coordination.


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economic analysis is a analysis of current economic and financial status ,if iam going to make one project that will contribute on the welfare of our nation means economic analysis will help us to select and design the project for example government use eonomic analysis for detrminig the finantial status of our nation


Describe economic reasoning and name the familiar process that it most resembles?

Its just weighing the pros and cons and it most resembles the cost - benefit analysis


Describe one of the earliest attempts to abolish slavery and explain why it was unsuccessful?

Early attempts to abolish slavery began in the 18th century. The attempts were marginally successful because slave trading was outlawed in 1807. The South, however, had too much economic sway for slavery to be completely abolished until after the Civil War.


What is the first thing you should do in conducting an economic analysis?

The first step in the process of conducting an economic analysis is to identify appropriate economic indicators for specific economic forecasts or trends.


What is a sentence contrasting positive and normative economic analysis?

write a sentence contrasting positive and normative economic analysis


The role of an assumption in an economic theory is to?

As in most sciences, such as physics, mathematical assumptions are often made for modelling purposes in economic theory. Simplifications are often described using the Latin term ceteris paribus (trans.: all else being equal), which attempt to assume everything but the two variables for analysis remain constant. Because economics attempts to describe and predict complex social systems, maintaining a track of a large number of interacting agents can be immensely difficult and not cost-beneficial compare to a simpler model that attempts to isolate the root causes of action.