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What are the conditions that give rise to the brief definition of economics?
Wiki User
∙ 9y ago
The conditions that give rise to the brief definition of economics is the law of supply and demand. Markets fluctuate according to how much is produced and how much is sold.
Wiki User
∙ 9y ago
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Give the 2 division of economics?
Micro economics and macro economics
Give the differences between micro and macro economics?
ten difference of micro economics macro economics
Is managerial economics conceptual or metrical give reasons?
Economics is conceptual as well as metrical.
Give and explain five reasons why you would recommend the study of economics to a business student?
Give and explain five reasons why you would recommend the study of economics to a business student?
Criticisms of Lionel robbins definition of economics?
According to Robbins, economics is a positive science but in reality it is not positive science deals with material things, the results of which are certain but economics deals with human behavior which is uncertain. Only A Valuable Theory: Robbins has reduced economicsmerely to the valuation theory. According to 'Frazer' economics is more than a valuation theory. Robbins has widened the scope of economics extra ordinary. He has included number of matters in economics which are in fact not discussed in economics. According toRobbins, it covers the whole human life. For example, if you are to choose between the worship of God and that of Mammon (riches), it will be an economic problem while it is spiritual issue. According to Robbins, economics has no normative aspect while it is incorrect.Normative science is that which deals with the matter of material well beings. It is also pointed out that Robbins definition ignores the macro aspect like determination of national income and employment. But in reality this is very important work of economists. It is also pointed out that Robbins definition has made economics colorless, abstract and difficult. It is in fact a definition of economics only for economists. A common man cannot get any utility fromit. Human Love Missing: Human love is entirely missing in Robbins definition of economics. He has not mentioned any thing about man's welfare. According to Robbins, an economist is a neutral person. He has no concern whether the ends are good or bad. But in reality an economist cannot be neutral person. He must give views on the solution of actual economic problems. Some writers point out that it fails to explain the problem of unemployment which is a main economic problem present time. According to Robbins, means are always scarce. But in some countries, one of the economic means, i.e., labour is not scarce. It meansRobbins definition is based on wrong assumption. The theory of economic growth or economic development has become the important branch of economics. This definition ignores it. It means it should be discussed in economics that how does economy grow and which factors bring about increase in nation income and productive capacity of the economy....
What are the conditions that give rise to the definition of economics?
The conditions that give rise to the brief definition of economics is the law of supply and demand. Markets fluctuate according to how much is produced and how much is sold.
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science of the production and distribution of wealth.
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a heading that names a statute or legislative bill; may give a brief summary of the matters it deals withthe definition of title is a name to a piece or owned thing
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Give the 2 division of economics?
Micro economics and macro economics
Can you give us a sentence with the word brief in it?
Your question was brief.
Give the differences between micro and macro economics?
ten difference of micro economics macro economics
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Is managerial economics conceptual or metrical give reasons?
Economics is conceptual as well as metrical.
Give you the concept of managerial economics?
ABAY
