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Why economists say competitive markets are efficient?
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
Why do all economists say all resources are scarce?
why are ecomics scarce?
Why do economists say that all resources are scarce and how does this concept impact economic decision-making?
Economists say that all resources are scarce because there is a limited supply of resources compared to the unlimited wants and needs of society. This scarcity forces individuals, businesses, and governments to make choices about how to allocate resources efficiently. The concept of scarcity impacts economic decision-making by requiring individuals and organizations to prioritize their needs and make trade-offs in order to maximize their utility or profit.
When a nation imports more than it exports economists say it has what?
Its known as a trade surplus
When a nation exports more than it imports economists say it has?
Its known as a trade surplus
When economists say that people act rationally in their self interest they mean that individuals what?
When economists say that people act rationally in their self interest they mean that
Why economists say competitive markets are efficient?
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
Why do all economists say all resources are scarce?
why are ecomics scarce?
Why do economists say that all resources are scarce and how does this concept impact economic decision-making?
Economists say that all resources are scarce because there is a limited supply of resources compared to the unlimited wants and needs of society. This scarcity forces individuals, businesses, and governments to make choices about how to allocate resources efficiently. The concept of scarcity impacts economic decision-making by requiring individuals and organizations to prioritize their needs and make trade-offs in order to maximize their utility or profit.
When a nation imports more than it exports economists say it has what?
Its known as a trade surplus
When a nation imports more than it exports economists say it has a?
Its known as a trade surplus
When a nation exports more than it imports economists say it has .?
Its known as a trade surplus
When a nation exports more than it imports economists say it has?
Its known as a trade surplus
How do you say choices in Portuguese?
"choices" means "escolhas" in portuguese.
What are you comparing when you say heavier or lighter?
weights
Why some economist say economics is useless?
economics is useless because it is based on assumptions made by economists............
What do economists mean when they say firms are searching for a new equilibrium?
When economists say firms are searching for a new equilibrium, they refer to the process by which companies adjust their operations, pricing, and strategies in response to changes in market conditions, demand, or external shocks. This search involves finding a balance where supply meets demand, allowing firms to maximize profits while responding to competitive pressures. The new equilibrium reflects a stable state where firms effectively allocate resources and adapt to the evolving economic landscape.
