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an arrangement that allows buyers and sellers to exchange things
What else can I help you with?
What is the definition of Adam smith about economics?
economics is the study of wealth
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
Why is lord robbins definition the most acceptable definition of economics?
It study Human behaviour "wants and scarcity"
What is the study of economics called?
in a market economy, a high price is a signal for?
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
What is the definition of consumer good economics and how does it impact the market?
Consumer good economics refers to the study of how consumers make decisions about purchasing goods and services. It examines factors such as consumer preferences, income levels, and market trends to understand how these choices impact the overall market. This field of economics helps businesses and policymakers better understand consumer behavior and make informed decisions about production, pricing, and marketing strategies. Ultimately, consumer good economics plays a crucial role in shaping the supply and demand dynamics within the market.
What is the definition of economics by Prof L Robbins?
economics is the study of human behaviors as a relation between ends and scarce resources that have alternative uses.
Why is Lord Robbins definition of economics is the most acceptable?
It study Human behaviour "wants and scarcity"
How do economics study human behavior?
Behavioral economics is the study of the effects of social, emotional, and cognitive factors on the economic decisions of people and companies. It also studies how market decisions are made.
What one means by business economics?
bisiness economics is the study of business related problems using economic techniqes like the study of market knowing the degree of competion prevailing in the market with the help of market structure techniques, the other example can be of the study of deamnd and supply forces. mostly micro econmics is regarded as business economics. it provides solution to basic problems of how to use scarce resource for unlimted wants.
What do you study in Economics in VCE?
The Australian Market system and basic economic concepts such as demand and supply.
