Already have an account? Get multiple benefits of using own account!
Login in your account..!
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
What are the advantages of using mathematics in Modern Economics?
Many of the advantages of using mathematics are as follows:
a. The “language” used and the explanations of assumptions are clearer, more exact, and more precise,
b. The logical process of analysis is more rigorous and obviously sets the boundaries and limits of a statement,
c. This can provide a new result which may not be easily acquired by observation alone, and
d. This can decrease needless debates and enhance or extend existing results.
This should be remarked that, though mathematics is of critical significance in modern economics, but economics is not mathematics. Economics utilizes mathematics like a tool in order to model and analyze different economic problems. Econometrics and Statistics are used to test or analyze and measure the accuracy of our predication, and specify causalities between economic variables.
using demand and supply curves explain how shortage and surplus are created
BALANCE OF PAYMENTS AND PROBLEM OF DEFICITS: The principal tool for the analysis of the monetary aspects of international trade is the balance of international payments set
Q. What do you meant by Derivatives? Derivatives: A derivative is a financial asset whose resale value depends on the value of other financial assets at different points in tim
oxidation state of f block elements
Production having Two Outputs -Economies of Scope * Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe
what is oxidizing agent
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
explain the difference between traditional theory and modern theory of cost
CES production function and its derivation
what will cause a firms demand curve to shift: a a change in sellers profit associated with the good or service b change in technology for good cchange in non price variable in dem
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd