Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
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.
When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
is country beter off with ban on imports?
CES production function and its derivation
Critically examine recent developments in demand theoryon #Minimum 100 words accepted#
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
explain 6 factors that determine volume of production
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
what is the nature of microeconomics?
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
Balancing Needs and Resources planning is a balancing act. It involves the balancing of needs with resources towards set goals. Likewise, educational planning involves the bal
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd