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The government oversees the production of goods and services

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Cristobal Kuhlman

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2y ago

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Wiki User

12y ago

The cows are needed for meat and after the war all the cows were gone because all the people from the war needed some food and supplies and somewhere to live so that's why why the people from the war killed all the cow for food and supplies.

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Wiki User

15y ago
TWO MAJOR FUNCTIONS OF MANAGERIAL ECONOMICS:-

1. Decision making

2. Forward planning

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Wiki User

10y ago

A purpose of economics is to understand how money works. Other purposes include learning about historical economies and the effects of those economies.

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Wiki User

13y ago

i think the main purpose of economic institution in society is providing goods and services to the society.

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Wiki User

14y ago

To satisfy human needs and wants in an efficient way.

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Q: Function of economics
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In the game of economics workers are the players who function as producers and?

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The government oversees the production of goods and services. (A+)


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What best describes the efficiency function of economics?

The government oversees the production of goods and services


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the economic function of the family is the things that the family members wants, their needs and how much they have to get it.


A production function measures the relation between?

The production function is a unit of measurement used in economics. The function measures the relationship between the quantities of productive factors and the amount of product obtained.


How is the Lagrangian method used in economics to optimize constrained optimization problems?

The Lagrangian method in economics is used to optimize constrained optimization problems by incorporating constraints into the objective function. This method involves creating a Lagrangian function that combines the objective function with the constraints using Lagrange multipliers. By maximizing or minimizing this combined function, economists can find the optimal solution that satisfies the constraints.


What are the key factors influencing the cobb-douglas demand function in economics?

The key factors influencing the Cobb-Douglas demand function in economics are the prices of the goods or services, the income of consumers, and the preferences of consumers. These factors determine how much of a good or service consumers are willing and able to purchase.