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What is the economic term for Having to choose between two things?
Opportunity Cost.
What is the legal term for law making that covers future things not thought of when making the law?
Ejusdem Generis
What is ceterius paribus?
Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis. Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis.
What is the definition of social justice?
Social justice is a term that is used loosely to describe economic equality. There have been movements throughout history which focused on making sure that everyone had the same economic situations.
which term describes the process of making an economic decision by considering both the advantages and the problems that might arise from the decision?
Cost-benefits analysis
How does research help in decision making?
Because you will know the in and out of what you are planning. for a short term or long term. the information gathered in research give you a idea about many things.
What are the economic tools of managerial decision making?
what are the economic tool which help manager in decision making
Which best explains why the game of economics is about setting goals as much as it is about making allocation decisions?
There are different and incompatible economic goals.There are different and incompatible economic goals.different people want different things out of life.
How does marketing research help in making decisions?
Because you will know the in and out of what you are planning. for a short term or long term. the information gathered in research give you a idea about many things.
Define the term promoting independence?
promoting independence means that you are making vulnerable people look after and do things for themself. instead of the care worker doing things for the clients
What is the myth of short run regularity?
The myth of short run regularity refers to the belief that economic relationships and patterns observed in the short term will consistently hold true over time. This assumption can lead to misguided expectations in economic forecasting and policy-making, as short-run dynamics may be influenced by temporary factors or anomalies that do not persist. In reality, economic behavior is often more complex and subject to change due to various external influences, making long-term predictions based on short-term data unreliable. Understanding this myth encourages a more cautious and nuanced approach to economic analysis.
What does ecronomics mean?
"Ecronomics" is a term that combines "ecology" and "economics," focusing on the intersection of ecological sustainability and economic practices. It emphasizes the need for economic systems to operate within the planet's ecological limits, promoting sustainable resource management and environmental conservation. The concept advocates for integrating ecological considerations into economic decision-making to ensure long-term sustainability and mitigate environmental impacts.
