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The assumption of completeness in economics posits that consumers can evaluate and rank all possible bundles of goods and services according to their preferences. This means that for any two bundles, a consumer can determine whether they prefer one over the other or if they are indifferent between the two. This assumption is fundamental for the construction of utility functions and the analysis of consumer choice, as it ensures that preferences are well-defined and ordered.
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What is the basic assumption of economics?
they lik money
The ceteris paribus assumption is used in economics?
yes
A basic assumption of economics is?
A rational self-interest.
Select the items below that descive rational behavior in economics?
It is a key assumption used in the study of economics and the choices that people make in pursuit of satisfaction.
What is Adam Smith's behavioral assumption about humans in economics?
usually act in a rational, self-interested way
What is the basic assumption of economics?
they lik money
The ceteris paribus assumption is used in economics?
yes
A basic assumption of economics is?
A rational self-interest.
What are the importance and goals of mircoeconomics?
it is important on understanding the individual pparty of economics it is impotant in knowing the theory and assumption of economics it is important for the economist in planning especialy for the governerment planners it is important on understanding the individual pparty of economics it is impotant in knowing the theory and assumption of economics it is important for the economist in planning especialy for the governerment planners
Select the items below that descive rational behavior in economics?
It is a key assumption used in the study of economics and the choices that people make in pursuit of satisfaction.
What is Adam Smith's behavioral assumption about humans in economics?
usually act in a rational, self-interested way
'what is the assumptions of economics by Alfred marshall'?
Alfred marshall made a heroic assumption of 'cetris paribus' which means other things being equal/constant in economics. This assumption he used for the theories he put forth viz. theory of demand,theory of supply,theory of diminishing marginal utility,etc. Most of his theories come under the sub field- micro economics. The assumption of cetris paribus is the main, there are many others for each law besides cetris paribus.
What is micro economics basic define?
define law of demand.explain it with the help of schedule and digram. also write its assumption and limitation
What is fallacy of consumption and assumption to be causation problems in economics?
Fallacy of consumption is when you assume that all men are endowed with huge cocks ;-p <---------------8
When was My Completeness created?
My Completeness was created on 2004-07-26.
What is the ceteris paribus assumption?
Ceteris paribus is a Latin phrase used widely in economics. It assumes that all things are equal, excluding outside variables.
What verifies that a required field contains data?
completeness check
