Illustrates stages of production of an economic conclusion, Microeconomics

Assignment Help:

Illustrates the stages of the production of an economic conclusion?

The production of an economic conclusion generally goes into three stages as follows:

Stage 1: It is non-mathematical language stage, generates preliminary outputs, propose economic concepts, conjectures and intuitions.

Stage 2: It is mathematical language stage, generates intermediate outputs, provide a formal and rigorous result by mathematical modelling which specifies the boundary of a theory.

Stage 3: It is non-technical language stage, generates last outputs, conclusions, insights and statements which can be understood through non-specialists.


Related Discussions:- Illustrates stages of production of an economic conclusion

What is capital requirements directive, In relation to banking, Basel II, t...

In relation to banking, Basel II, the Capital Requirements Directive (CRD) was implemented in January 2008. The CRD requires stricter capital treatment of a bank's risk transfer op

Properly mixed strategy, A " properly mixed strategy " means a mixed strate...

A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo

State-owned enterprises should be encouraged or discouraged, Question 1: ...

Question 1: a. What is the supposed rationale for subsidising higher education in various developing countries? b. Do you think there is a legitimate rationale to the abov

Create a multi-dimensional arrays, Create a Document that displays informat...

Create a Document that displays information about cars. First, create a select with an id="make". It will not have any makes in the options until the page finishing loading. When t

Salesmaximisation, fig2.3 elaplanition of sales maximisation

fig2.3 elaplanition of sales maximisation

Competitiveness in your industry, a) Collect costs, revenue data, or other ...

a) Collect costs, revenue data, or other data from the industry that you deem relevant. Describe how you would modify the data in order to make it relevant to decisions a manager m

Demand schedule and demand curves, what is the combined total demand schedu...

what is the combined total demand schedule for Delgian cocoa beans that European and USA consumers buy

Monopolistic competition and oligopoly, Monopolistic Competition and Oligop...

Monopolistic Competition and Oligopoly: It was recognized that most industries exhibit the features of monopolistic competition in real-life. However, it must be pointed out t

Perfect competition, When should a firm shut down production in the short r...

When should a firm shut down production in the short run?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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