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1. What is the importance of Economics in decision making to those in business sector? Explain briefly
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- 2.You were planning to spend Saturday working at your part-time job, but a friendasks you to go skiing. What is the true cost of going skiing? Now suppose you had been planningto spend the day studying at the library. What is the cost of going skiing in this case? Explain4.- What does the economic study consist of?4 Can you help me with this question? Thanks.
- Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements (i.e., what will happen) about some economic policy, for example, but do they have special expertise to judge whether or not the policy should be undertaken?What is the difference between microeconomics and macroeconomics?What assumptions about the economy must he true for the invisible hand to work? To what extent are those assumptions valid in line real world?
- Thank you . Need correct answer !! And explain please] Suppose that a football team is holding tryouts for various positions. A certain playertries out for both offensive line and defensive line. He ends up making the team as an offensivelineman. However, he is actually better at the defensive position. He is puzzled by this so he asksthe coach to explain. What do you think the coach told the player? Relate this to an economicconcept or concepts we have discussed.5 What are the two rules for writing that were most interesting or important to you and why? Add two more tips and be as much imaginative as possible!