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According to economics, human capacity is theoretically____________
A(none of the answers]
B finite
C predictable
D infinite
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- What is scarcity? Can you think of two causes of scarcity?Could a nation be producing in a way that is allocatively efficient, but productively inefficient?Positive economics is Oa based only on true statements Ob. similar to normative economics O cobjective and fact based Od. based on opinions A Positive statement Oa is a statement of what is Obsastaterment of what ought to be Oc cannot be tested by checking it against the tacts Od None of these
- Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40________ can predict the Impact of an economic event on economic choices..I My courses / PRINCIPLES OF MICROECONOMICS-Lecture-1202- ECON131 - 5/ Chapter 1: Limits, Alternatives, and Choices / QU Time left 0:24:31 he production possibilities curve below shows the hypothetical relationship between the production of wheat and steel in an economy. Турe of Production Alternatives production BCDEF A Steel 20 75 80 90 100 Wheat 100 90 75 45 25 If the economy is producing at point E, what is the opportunity cost of producing additional 20 ton of wheat? O A. 2 tons of steel O B. 0.5 tons of steel O C. 10 tons of steel O D. 20 tons of steel Next page تسجيل المحاضرة الرابعة- 4 ciure Jump to... )ملخص الفصل الثاني( 2 Chapter
- Analyze the positive versus normative argument sin the following case. What statement of positive economics are used to support requiring air bags? What normative reasoning is used?What is meant my the normative economics. Explain in detail.What methodological conaiden ation in Econ omics will be useful far decision- making or policy making? A. Welfare Econmics B. Narmative Ecanomics C. Positive Economics D. None of the above
- what is economics and what are its branchs? what is the advantage of studying economics? how is economics useful in development of the current world?.Food 100 75 50 B 11 1 100 97 E I LL F 150 200 Clothes Explain the above production possibility model. Be sure to include, opportunity cos factors of production, efficiency, and what happens at each point on the model.2. Which of the following is a normative statement? a. An increase in taxes raises the price of a product b. Vaccination is a method of fighting Covid -19 c. Government should Impose taxes on the cigarette. d. Studying more hours leads to an increase in your GPA.
