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Mathematics provides the tools that economists use. Particularly important are algebra and calculus, as they allow economists to construct elaborate econometric models that study the gross domestic product (GDP), employment, inflation and other macroeconomic variables. Mathematics is also used in microeconomics, for example, to calculate the optimal price of an economic good.
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What managerial economics and it relations to other disciplines?
accounting
Relationship between social studies and economics?
One is the sudy of human ,enviroment while the other is about.production,consumption which verable into wealth
What is the difference between substitutes and complements in economics?
In economics, substitutes are products that can be used in place of each other, while complements are products that are used together. Substitutes have a negative relationship in demand, meaning when the price of one goes up, the demand for the other increases. Complements have a positive relationship in demand, meaning when the price of one goes up, the demand for the other decreases.
What is the relationship of finance and economics?
Operation Research is used in managerial economics to find out the best of all possibilities. Linear programming is a great aid in decision making in business and industry as it can help in solving problems like determination of facilities on machine scheduling, distribution of commodities and optimum product mix etc.
Relationship of economics with other subject?
Economics, the study of how to locate resources, is related to the social sciences, natural sciences, and humanities. Economics is important in the study of political science, when studying the structure and functions of governments and how they relate to each other. Economics is related to history when studying imperialism, class conflicts, labor, and historic economies.
How can you analyze the relationship between public administration and other academic disciplines?
To analyze the relationship between the public administration and other academic disciplines you need to look at the roles that the two play. The academic disciplines help in the understanding of the various aspects of the public administration,
What managerial economics and it relations to other disciplines?
accounting
What is the relationship between management and other disciplines?
Management is often connected to various disciplines such as psychology, sociology, economics, and engineering. It draws from these fields to better understand human behavior, organizational structures, decision-making processes, and operational efficiency. By integrating principles from other disciplines, management can improve its effectiveness in addressing complex challenges within organizations.
What is the relationship of political science to other disciplines?
Political science is a social science dealing with the study and practice of nations, states, governments, policies, and politics. Political science's relationship with other disciplines stems from these principle areas and intersects with other disciples like sociology, economics, law, history, psychology, public administration, and internal relations.
What is the relationship of geography to other scientific disciplines?
Geography is dependent of other fields for data. Soil relates to agriculture, physiography relates to geology, the subject of people relates to economics or sociology, political geography relates to history, mathematical geography relates to astronomy, climatology relates to meteorology, and bio-geography relates to biology.
What is the relationship between economics and physics?
There is no direct relationship between physics and economics. Physics attempts to describe in mathematical terms how matter and energy interact. Economics tries to understand the human systems of work, pay, investment, and value assessment.
Relationship between social studies and economics?
One is the sudy of human ,enviroment while the other is about.production,consumption which verable into wealth
What are social studies?
In education, social studies include history, political science, economics, sociology and other disciplines related to human society.
What is the difference between substitutes and complements in economics?
In economics, substitutes are products that can be used in place of each other, while complements are products that are used together. Substitutes have a negative relationship in demand, meaning when the price of one goes up, the demand for the other increases. Complements have a positive relationship in demand, meaning when the price of one goes up, the demand for the other decreases.
What makes one variable cause the second?
A variable does not usually "cause" another. A change in one variable may result in a change in another. Such a change may be systematic (the relationship between the two variables is precise) or it may be statistical or correlational. The reasons for either type will often depend on disciplines of knowledge other than mathematics, such as physics or economics etc.
What is the relationship between theology and other disciplines?
Theology often intersects with other disciplines, such as philosophy, history, psychology, and science, as it considers questions about the nature of existence, morality, and the divine. These interactions can lead to enriching dialogue, mutual influence, and interdisciplinary insights. While theology retains its distinct focus on faith and religious beliefs, it can benefit from engaging with diverse disciplines to deepen understanding and foster interdisciplinary connections.
What is the relationship of economics to other field of sciences?
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