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Define Micro economics and explain their merits and demerits?
microeconomics seeks to explain the working of individual prices, wages, particular industries. merits of microeconomics: 1. formulating economics policies and scare resource of the country 2. achieve maximum output with minimum input.
What do mean by theoretical economics?
Theoretical economics refers to the abstract framework and models used to analyze economic phenomena and relationships. It focuses on developing theories and principles that explain how economies function, often relying on mathematical and statistical tools. Unlike applied economics, which seeks to address real-world problems, theoretical economics emphasizes understanding fundamental mechanisms and assumptions underlying economic behavior and systems.
What is positive economics and negative economics?
Positive economics deals with objective analysis and factual statements about economic phenomena, focusing on what is or what will be based on evidence and data. It seeks to describe and explain economic behavior without making value judgments. In contrast, normative economics involves subjective opinions and value-based statements about what ought to be, addressing questions of fairness, equity, and policy recommendations. Together, these two branches help to understand both the functioning of economies and the ethical implications of economic choices.
What are the definition of economics based on the economics?
Economics is the study of how individuals and societies allocate scarce resources to satisfy unlimited wants and needs. It examines decision-making processes and the interactions between various agents, such as consumers, businesses, and governments. The discipline can be divided into microeconomics, which focuses on individual and firm behavior, and macroeconomics, which looks at the economy as a whole, including factors like inflation, unemployment, and economic growth. Ultimately, economics seeks to understand and explain the production, distribution, and consumption of goods and services.
What are different kinds of economics?
Economics is one social science among several but has fields bordering on other areas, including economic geography, economic history, public choice, cultural economics, and institutional economics. One division of the subject distinguishes two types of economics. Positive economics ("what is") seeks to explain economic phenomena or behavior. Normative economics ("what ought to be," usually as to public policy) prioritizes choices and actions by some set of criteria; such priorities reflect value judgments, including selection of the criteria. Another distinction is between mainstream economics and heterodox economics. One broad characterization describes mainstream economics as dealing with the "rationality-individualism-equilibrium nexus" and heterodox economics as defined by a "institutions-history-social structure nexus." Areas of economics may be classified in various ways, but an economy is usually analyzed by use of microeconomics or macroeconom. Economics as an academic subject often uses geometric methods, in addition to literary methods. Other general mathematical and quantitative methods are also often used for rigorous analysis of the economy or areas within economics. Such methods include the following.mathematical economics. econometrics. national accounting. Some selected field of economics ::agricultural economics. economic growth and development economics. economic system. environmental economics. financial economics. game theory.industrial organisation. information economics.international trade and finance. labour economics.law and economics. public finance. manegarial economics. welfare economics.
Define Micro economics and explain their merits and demerits?
microeconomics seeks to explain the working of individual prices, wages, particular industries. merits of microeconomics: 1. formulating economics policies and scare resource of the country 2. achieve maximum output with minimum input.
What do mean by theoretical economics?
Theoretical economics refers to the abstract framework and models used to analyze economic phenomena and relationships. It focuses on developing theories and principles that explain how economies function, often relying on mathematical and statistical tools. Unlike applied economics, which seeks to address real-world problems, theoretical economics emphasizes understanding fundamental mechanisms and assumptions underlying economic behavior and systems.
What is positive economics and negative economics?
Positive economics deals with objective analysis and factual statements about economic phenomena, focusing on what is or what will be based on evidence and data. It seeks to describe and explain economic behavior without making value judgments. In contrast, normative economics involves subjective opinions and value-based statements about what ought to be, addressing questions of fairness, equity, and policy recommendations. Together, these two branches help to understand both the functioning of economies and the ethical implications of economic choices.
What are the definition of economics based on the economics?
Economics is the study of how individuals and societies allocate scarce resources to satisfy unlimited wants and needs. It examines decision-making processes and the interactions between various agents, such as consumers, businesses, and governments. The discipline can be divided into microeconomics, which focuses on individual and firm behavior, and macroeconomics, which looks at the economy as a whole, including factors like inflation, unemployment, and economic growth. Ultimately, economics seeks to understand and explain the production, distribution, and consumption of goods and services.
What is a quatitavive question?
The key word in the question is quatitavive. This is too close to two possible alternatives: quantitative and qualitative. A quantitative question seeks information in numerical form, a qualitative question seeks information which is descriptive but not numerical.
What is one question religion seeks to answer?
The purpose of life
if a question seeks an explanation is it rhetorical?
No. A rhetorical question is asked only for effect and no answer is expected.
Which best defines scientific question?
A scientific question is a testable and falsifiable inquiry that seeks to explain a phenomenon or explore a relationship between variables. It is typically specific, measurable, and structured to guide research and experimentation. Such questions often begin with "how" or "why," allowing for systematic investigation and analysis.
Is fascism liberal?
NO. Fascism specifically seeks to restrict the individual rights and liberties which form the basis of liberal policy.
What is the question socialism attempts to answer?
The key question that Socialism seeks to answer is: Who should be in control of the industrial means of production, such as factories? Socialism seeks to answer this question by arguing that the population as whole, represented by committees, should own the means of production and not individual capitalists.
What document sets the grounds for the court's jurisdiction basis of the case and the relief that the plaintiff seeks?
what web site d.h.s. case
What is an accelerating universe?
An accelerating universe is a theory which describes and seeks to explain the increasing rate of the expansion of the universe.
