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Why does choice arise in economics. Use an example to discuss the concepts of choice and opportunity cost?
Wiki User
∙ 14y ago
why don't you get on with the coursework question.
Wiki User
∙ 14y ago
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Why are costs important in economics?
How do firms incorporate opportunity cost to calculate economic cost? discuss and give example using an explicit economic cost and an implicit economic cost.
Managerial economics is an art or science.explain?
Both! The ideas and concepts behind managerial economics all have a scientific basis. Some managerial decisions made using managerial economics can employ scientific explanations. On the other hand, many managerial decisions made using the concepts of managerial economics are very subjective. One must, for example estimate the intentions of competitor firms. While some of this is scientific, some of it is luck and some of it is an art.
What is the example of opportunity seeker?
examples of opportunity seekers
What is an example of margin in economics?
KK
What does opportunity?
An opportunity means a possibility, or something similar to that. Example: That girl is single! What a great opportunity for you!
Why are costs important in economics?
How do firms incorporate opportunity cost to calculate economic cost? discuss and give example using an explicit economic cost and an implicit economic cost.
Managerial economics is an art or science.explain?
Both! The ideas and concepts behind managerial economics all have a scientific basis. Some managerial decisions made using managerial economics can employ scientific explanations. On the other hand, many managerial decisions made using the concepts of managerial economics are very subjective. One must, for example estimate the intentions of competitor firms. While some of this is scientific, some of it is luck and some of it is an art.
Briefly discuss Value with the help of example?
In economics value means value in exchange ie value of a commodity is the amount of other goods and services which is obtained in exchange for it.
What is the plural form of Economics?
Economics... when used with a plural verb. For example, 'what are the economics of such a venture?'
Name a time when you failed to meet a target?
When answering this question, use a work-related example that still gives you the opportunity to discuss your strengths and stills. Discuss what you learned from not meeting a target goal, and the steps you have taken to improve upon your performance.
What is an example of concepts?
An example of a concept is called a prototype.
What are biological concepts?
Biological concepts are concepts that have to do with biology which is the study of life. An example of this is the study of human cells.
What is the example of opportunity seeker?
examples of opportunity seekers
What is an example of margin in economics?
KK
What does opportunity?
An opportunity means a possibility, or something similar to that. Example: That girl is single! What a great opportunity for you!
What is example of fungible good in economics?
potatoe
Give an example of an outcome in the game of economics?
Increased sales which translates to increased revenues is an example of an outcome in the game of economics. There is usually circulation of currency in such an economy.
