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In what ways can culture impact economics?
Holidays like Thanksgiving or Labor Day Love of a certain type of music Parents teach children their work ethic Preferences for housing
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)
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 is an example of ceteris paribus in economics?
Prices of substitute and complement goods are held constant in the demand curve for a good. As well as Interest rates, savings, people's preferences, and people's knowledge about everything but one change in a good.
What is the difference between MSc Economics and MA Economics?
what is difference between msc economics and ma economics
Definition of Scale of preferences in economics?
it is to give gives priorities among to wants
What must buyers and sellers have access to for a perfect competitive market to function properly?
To buy and sell freely. It is also assumed that they their capabilities are symmetric and their preferences are convex.
Is a ploygon convex or not convex?
a polygon is convex
Difference of non convex and convex?
A non convex is a concave and a convex is differently shaped
What has the author Daniel M Hausman written?
Daniel M. Hausman has written: 'Economic analysis, moral philosophy, and public policy' -- subject(s): Economics, Ethics, Moral and ethical aspects, Moral and ethical aspects of Economics, Public Policy 'Preference, value, choice, and welfare' -- subject(s): Preferences (Philosophy), Rational choice theory, Consumers' preferences, Value
What kind of lens does a projector use?
projector have concave or convex
What does consumer choice mean?
A CHOICED CONSUMER IS ONE WHO KNOWS HIS OPTIONS AND CHOOSES RESPONSIBLY. Consumer choice is a theory of Microeconomicsthat relates Preferencefor consumption Good_(economics) and services to consumption expenditures and ultimately to Supply_and_demand. The link between personal preferences, consumption, and the demand curve is one of the most closely studied relations in economics. Consumer choice theory is a way of analyzing how consumers may achieve Equilibrium_(economics) between preferences and expenditures by maximizing Utilityas subject to consumer Budget_constraint.
Is the union of two convex sets a non-convex set?
the union of two convex sets need not be a convex set.
Is a microscope convex or a concave?
Convex ~
Are eyes concave or convex?
convex
Is the lens in a human eye concave or convex?
The lens of the eye is biconvex (convex on both sides).
What is a lens that is thicker in the middle than at the edges?
a convex lens
