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1) Everyone faces tradeoffs
2)The cost of something is what you give up to get it.
3)Rational people think at the margin
4)Everyone responds to incentives
5)Everyone benefits from trade
6)Markets are a good way to organize economic activity.
7)The government can sometimes improve market outcomes.
8)A country's standard of living depends on its ability to produce goods and services.
9)Prices rise as the government prints too much money.
10)Society faces a short-run tradeoff between inflation and unemployment.
What else can I help you with?
What rules should the government have in economics?
inflation
Contribution of Muslim scholars to Islamic economics?
The Muslim scholars formulated trade and economic rules and provided guidance in the field of trade and economics.
What is the difference between economics and politics?
Regardless of the type of government, Politics and Economics have a 'chicken & egg' relationship. While politics sets the rules and laws that enable economics to succeed, business (economics) tells the politicians what works, what doesn't work, and what they want to maintain profitability.
What organizes negotiations about trade rules and provides help to countries trying to develope their economics?
WTO
What are economics?
Economics is the branch of social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (h ouse) and nomos (custom or law), hence "rules of the house(hold) Modern Economics developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences The subject thus defined involves the study of choices as they are affected by incentives and resources.Areas of economics may be divided or classified into various types, including: * microeconomics and macroeconomics * positive economics ("what is") and normative economics ("what ought to be") * mainstream economics and heterodox economics * fields and broader categories within economics. source: www.en.wikipedia.org
Origin of economics?
The term economics comes from the Ancient Greekοἰκονομία (oikonomia, "management of a household, administration") from οἶκος(oikos, "house") + νόμος(nomos, "custom" or "law"), hence "rules of the household.For more detailplz contactNajaf Alialians_5@hotmail.com
What is regional intergration?
Regional integration is a process in economics. This process involves an agreement between neighboring states using the same rules and institutions.
Classification of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
What are the classifications of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
How has economics evolved over time?
Economics has evolved over time in that there are different currencies, rules, goods and incentives involved. Different countries have seen their economies change from socialist to capitalist, (see China) and even the other way around (see Venezuela).
Do you have to pass civics and economics in order to graduate?
This question would be better addressed to your school counselor, as we don't have any idea what school you go to or what their particular rules are.
What has the author Frank Livesey written?
Frank Livesey has written: 'A textbook of core economics' -- subject(s): Economics 'Stage 1 economics' -- subject(s): Economics 'Dictionary of Economics' 'Economics' -- subject(s): Economics, Marketing, Problems, exercises 'A modern approach to economics' -- subject(s): Economics 'Economics (A.C.C.A.)' 'Economics for business decisions' -- subject(s): Managerial economics 'Economics (Marketing)' 'A textbook of economics' -- subject(s): Economics 'Objective tests in A Level economics' -- subject(s): Economics, Examinations, questions, Problems, exercises
