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What is the difference between economics and business?
Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and services in a society while; business is conducted to earn profit for our own use. Whatever we do to earn our livelihood is known as our business.
Healthcare Reform is currently in the news almost every day. The current approach proposes a government sponsored health insurance “market” to help control costs and make healthcar
Use of ppc in microeconomics
Sources of monopoly power: The main sources of monopoly power include the following: (i) Control of the entire supply of a basic input . It only one firm has access to or co
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
how does the program food stamps work????
what is the use of models in economics?
Using real life examples and the use of the following concepts: Effecient vs Ineffecient and Opportunity cost and increasing opportunity cost
1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. 2) A) Why would y
Government Production: Some production in the economy is undertaken directly by governments (or several kinds of government agencies) in order to meet public requirements (as disti
How does planning serve as a solution to economic problems?
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