0
economics is the study of human behaviors as a relation between ends and scarce resources that have alternative uses.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Who was formulated economics as s social science?
L. Robbins
C-E-L-L in economics terms?
it stands for c= capital: man-made items used to produce goods and services to satisfy consumers needs and wants. eg. tool, machinery and factories. e= enterprise: the ability or skill of an entrepreneur of a business to coordinate the other factors of production (CELL) efficiently. l= labour: the people who are willing and able to participate in the production process in return for material rewards (wages). l= land: natural resources also includes MAFF; mining, agriculture, fishing and forestrys.
How do different countries trade with each other?
they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, they dance, l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l l-o-l
Why do engineer need to study economics?
Note: the following is my opinion but is based on facts. Engineering is a great applied science that studies how to make solutions to practial, scientific problems. While engineering deals with how to solve these problems, economics is the complementary science of how to optimise these solutions. Economics analyses production mathematically and statistically. For engineering, microeconomics is the invaluable tool to determine optimisation with given resource constraints (mostly by Lagrangian multi-variate methods). Game theory analysis can help determine incentive structures engineering systems should take to make proper human actions. The best use of economics in engineering is to apply these solutions to different engineering solutions in order to achieve Pareto efficiency, or economic, efficiency (ironically, Pareto was an engineer himself). The best solutions in engineering are not always the best-designed or the ones of highest quality but also the ones which are cost-effective and effiicent given constraints. Economics can master these concepts.
What is an input in economics?
An input is what the firm uses in order to produce a final good. So it can be material, like glass to make light bulbs, but more often these are generally looked at as intermediate goods. A true input is usually capital (K) or Labor (L) used to produce a quantity (Q) of a good. so a simple production function can look like this Q=K+L meaning that if you had 3 units of K and 5 units of L you would have 8 units to sell. This type of production function where K and L are added is indicative of inputs being perfect substitutes.
Who was formulated economics as s social science?
L. Robbins
What has the author L Robbins written?
L. Robbins has written: 'Aspects of post-war economic policy'
When was David L. Robbins - Virginia writer - born?
David L. Robbins - Virginia writer - was born on 1954-03-10.
What has the author Stanley L Robbins written?
Stanley L. Robbins has written: 'Pocket companion to Robbins pathologic basis of disease' -- subject(s): Handbooks, Handbooks, manuals, Pathology 'Basic pathology' -- subject(s): Pathology
What has the author Robbins L Elliott written?
Robbins L Elliott has written: 'The Canadian labour press from 1867' -- subject(s): Canadian periodicals, Directories, Labor and laboring classes, Periodicals
What has the author Mary L Callahan written?
Mary L. Callahan has written: 'Home economics' -- subject(s): Home economics
What has the author J L Baxter written?
J. L. Baxter has written: 'Behavioural foundations of economics' -- subject(s): Consumer behavior, Economics, Psychological aspects, Psychological aspects of Economics, Sociological aspects, Sociological aspects of Economics
What has the author Abraham L Gitlow written?
Abraham L. Gitlow has written: 'Economics'
What has the author Elizabeth L Kendall written?
Elizabeth L. Kendall has written: 'Professional development in home economics' -- subject(s): Home economics, Vocational guidance
What has the author Robert L Sexton written?
Robert L. Sexton has written: 'Wall Street Journal Edition of Exploring Economics' 'Exploring Microeconomics' 'The economics of American historical issues' -- subject(s): Economic conditions 'Exploring Macroeconomics' 'Wall Street Journal Edition of Exploring Microeconomics Integrated Learning System' 'Exploring Economics' -- subject(s): Economics 'Exploring economics' -- subject(s): Economics 'Exploring Economics'
What has the author Marilyn L Kourilsky written?
Marilyn L. Kourilsky has written: 'Understanding economics' -- subject(s): Economics, Study and teaching (Elementary), Study and teaching (Secondary) 'The entrepreneur in youth' 'Strategies for teaching economics' -- subject(s): Economics, Study and teaching (Elementary) 'The e generation' -- subject(s): Entrepreneurship, New business enterprises
What is the definition of a contrasting trait?
l.
