What are the three basic economic questions, Microeconomics

Assignment Help:

What are the "three basic economic questions" that economists often address when examining how much economic output is formed?

The three basic questions are:

a) what is produced,

b) how is it produced, and

c) for whom is it produced.

Related Discussions:- What are the three basic economic questions

Crop patterns, CROP PATTERNS: Analysis of crop patterns in India shoul...

CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u

Ic, consumer equilibrium by indiffrence curve approach

consumer equilibrium by indiffrence curve approach

Expected value, Expected Value - The weighted average of payoffs or val...

Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected

Discretionary fiscal policy, Discretionary Fiscal Policy: Some government t...

Discretionary Fiscal Policy: Some government taxing and spending programs can be adjusted by government in response to changing economic circumstances. These discretionary measures

Sources of external economies of scale, Sources of external economies of sc...

Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci

Graph & calulations, Not sure how to graph & calculate a retail price of $3...

Not sure how to graph & calculate a retail price of $30 & avg cost $20 assuming that the equation for demand is Q=10,000-9,000P, where P=retail price & Q=# sold per month.Then to s

Surplus- economics, Surplus: Anysector or agent in economy (business, hous...

Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure. Surplus, Economic: For the economy

Assignment, illustrate graphically the influence of an increase in immigran...

illustrate graphically the influence of an increase in immigrants on the market supply of labour

Using the Keynesian income-expenditure model analyse the imp, any ideas?

any ideas?

Oligopoly, reason for kinked demand curve

reason for kinked demand curve

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages