Explain economic principles

Reference no: EM1373811

1. Suppose if there were no tax profits and behavior is governed through rational self interest, would people give to charitable institutions? use economic principles to describe.

2. What good is economic theory if it cannot predict an individual's behavior? give examples of the use of economic theory.

3. In a response to an increase in illegal aliens, congress made it a federal offense to hire them. how will this affect the production possibilities frontier? Will industries be affected equally?

4. Under what conditions is it possible to increase production of one good without decreasing production of another? I need to develop a model

5. Discuss the role of markets in coordinating the independent decisions of buyers and sellers.

Reference no: EM1373811

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