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What is the economic term for Having to choose between two things?
Wiki User
∙ 11y ago
Opportunity Cost.
Wiki User
∙ 11y ago
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Are all decisions economic decisions?
Economic factors are very important, but people do sometimes make decisions for other reasons. For example, if I decide to buy a blue shirt rather than a brown shirt, and both shirts cost the same amount, then I have made an aesthetic decision rather than an economic decision. But then, there is first the decision that I can afford to buy a shirt, which is an economic decision. People often choose to do things that will bring them economic hardship, such as buying luxuries that they can't really afford, so economics is not always the deciding factor. People may choose to defy economics, although that is very risky.
What are four things that can be looked at when promoting economic strength?
growth, stability, employment, economic citizenship
What are the economic functions of the family?
the economic function of the family is the things that the family members wants, their needs and how much they have to get it.
Do economic models always accurately predict economic behavior?
No, economic models don't always predict economic behavior because models are based on assumptions, or things that we take for granted as true.
Why economic important to individual people?
to learn new things
What was good about having cuneiform?
It allowed the people to keep track of economic things and maintain records.
What does choice mean?
Choices means things you can choose. You may opt for this or that.
What are alternatives?
You have alternatives when there is more than one possibility and you can choose between at least two things.
What does homogolous mean?
Homologous means having something similar between two things.
How would you choose and obtain relevant information from an article?
have a look at key words that are in the article or have sex and when your having sex think about the key things you liked about it
What is practical theory?
Micro-practice theory is basically a branch of Economics that focuses on certain things. These things include particular commodities, firms, and individuals and economic relationships between them.
Is chooses a verb?
Choose is a verb. It means to make a choice between two or more things.
What is a micro-practice theory?
Micro-practice theory is basically a branch of economics that focuses on certain things. These things include particular commodities, firms, and individuals and economic relationships between them.
What produced the strongest calls for a new national constitution and government in the 1780's?
The people were upset with the economic chaos in the nation. They did not enjoy having to pay for things they had not voting power on.
Are all decisions economic decisions?
Economic factors are very important, but people do sometimes make decisions for other reasons. For example, if I decide to buy a blue shirt rather than a brown shirt, and both shirts cost the same amount, then I have made an aesthetic decision rather than an economic decision. But then, there is first the decision that I can afford to buy a shirt, which is an economic decision. People often choose to do things that will bring them economic hardship, such as buying luxuries that they can't really afford, so economics is not always the deciding factor. People may choose to defy economics, although that is very risky.
The economic term making things is?
Manufacturing
What is a vimdiagram?
It is a diagram comparing two things, often having similar things between the two objects, people, or other things. It looks like two circles over-lapping. The similar things go in the center.
