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All economics in the current world (except North Korea) are based on open or semi open market capitalistic economy. Being the same economical model, they face similar central problems.
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What is the central economic problem?
The central problem of any economic organization is how to provide a high SOL (standard of living) for all of its members.the central problem of modern economics is scarcity.
Why do all economies have similar central problems?
Economic problem arises mainly due to two reasons- (i) human wants are unlimited (ii) means to satisfy human wants are scarce.
What is difference between economic and managerial economic?
Difference between economics & managerial economics 1) Managerial Economics is micro in character Pure Economics is both micro and macro in character 2) Managerial Economics study only practical application of the Economic principle to the problem of firm Pure Economics deals with the study of principles itself 3) Managerial Economics deals with the Economic problems of the firm while Pure Economics deals with Economic problems of both firm and individuals 4) Managerial Economics deals with profit theory only Pure Economics deals with all distribution theories like rent, wages, interests, and profits.
Why is economics central to an understanding problems of development?
I think because the development of a country depends upon economic factors and so you can only understand how a country is developing if you know about how the economic factors are and how the factors change. Many problems of development stem from a lack of money and economics is all about money so the two areas of developmentand economics are related. Problems of development are like not having enough money, which means too much poverty and high unemployment rates and these aspects of the problems are centralissues in economics and so economics teaches us about problems indevelopment and so we can better understand these problemsprincipally by looking at economic factors that define the problems. Its mainly money at the centre of economic problems or a lack of money and so it is effected largely by how money is distributed among people and for what purposes money uses which are central issues ineconomics. I suppose you can't understand unemployment as well as an economist understands unemployment because economists look at unemployment all the time and pay very close attention to it so economists are very good at understanding economic developmentproblems for this reason and probably other reasons. Furthermoreeconomics is a social science and is concerned with people and economic development problems also stem from people so these fields are related and understanding the one helps you better understand the other because you can build up a bigger picture.
Why do countries with different economic systems face the same fundamental economic problems?
The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.
What is the central economic problem?
The central problem of any economic organization is how to provide a high SOL (standard of living) for all of its members.the central problem of modern economics is scarcity.
Why do all economies have similar central problems?
Economic problem arises mainly due to two reasons- (i) human wants are unlimited (ii) means to satisfy human wants are scarce.
What is difference between economic and managerial economic?
Difference between economics & managerial economics 1) Managerial Economics is micro in character Pure Economics is both micro and macro in character 2) Managerial Economics study only practical application of the Economic principle to the problem of firm Pure Economics deals with the study of principles itself 3) Managerial Economics deals with the Economic problems of the firm while Pure Economics deals with Economic problems of both firm and individuals 4) Managerial Economics deals with profit theory only Pure Economics deals with all distribution theories like rent, wages, interests, and profits.
Why is economics central to an understanding problems of development?
I think because the development of a country depends upon economic factors and so you can only understand how a country is developing if you know about how the economic factors are and how the factors change. Many problems of development stem from a lack of money and economics is all about money so the two areas of developmentand economics are related. Problems of development are like not having enough money, which means too much poverty and high unemployment rates and these aspects of the problems are centralissues in economics and so economics teaches us about problems indevelopment and so we can better understand these problemsprincipally by looking at economic factors that define the problems. Its mainly money at the centre of economic problems or a lack of money and so it is effected largely by how money is distributed among people and for what purposes money uses which are central issues ineconomics. I suppose you can't understand unemployment as well as an economist understands unemployment because economists look at unemployment all the time and pay very close attention to it so economists are very good at understanding economic developmentproblems for this reason and probably other reasons. Furthermoreeconomics is a social science and is concerned with people and economic development problems also stem from people so these fields are related and understanding the one helps you better understand the other because you can build up a bigger picture.
Are all atoms are similar in structure?
Yes. They all have a central nucleus with an electron probability cloud surrounding it.
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
What are the problems faced by Indian banks?
Similar to those face by all other banks
Why do countries with different economic systems face the same fundamental economic problems?
The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.
Why is documentation of all services and repairs an important organizational tool for a technician?
It provides reference material for similar problems when such problems are encountered in the future.
Who must know all thescientific definitions of economics?
Everyone studying economics
What is the meaning and uses of land in economics?
land in economics mean all natural resources
How can you use economics in a real life situation?
Economics is all about real life situations. All resources are limited and economics is simply about making decisions to use those resources efficiently.
