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Who is the father of economics why he called father of economics from which word economics derived?
John Maynard Keynes"Father of Economics" some says that "Adam Smith" is the real father of economics
Economics may best be defined as the?
"A number of assumptions designed to prove that perfect competition is better than imperfect competition" :) Ok, in my opinion, it is "a branch of sciences that studies markets"
What cause the prejudice against immigrants?
competition for jobs
Nature and scope of environmental economics?
Nature of Business Economics :Traditional economic theory has developed along two lines; viz., normative and positive. Normative focuses on prescriptive statements, and help establish rules aimed at attaining the specified goals of business. Positive, on the other hand, focuses on description it aims at describing the manner in which the economic system operates without staffing how they should operate.The emphasis in business economics is on normative theory. Business economic seeks to establish rules which help business firms attain their goals, which indeed is also the essence of the word normative. However, if the firms are to establish valid decision rules, they must thoroughly understand their environment. This requires the study of positive or descriptive theory. Thus, Business economics combines the essentials of the normative and positive economic theory, the emphasis being more on the former than the latter.Scope of Business Economics :As regards the scope of business economics, no uniformity of views exists among various authors. However, the following aspects are said to generally fall under business economics.1. Demand Analysis and Forecasting2. Cost and production Analysis.3. Pricing Decisions, policies and practices.4. Profit Management.5. Capital Management.
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
What are the 5 human activities that involve economics?
what are the 5 human activitiesthat involve economics?
The highest form of competition in economics called?
perfect competition
Who has the exercise about fundation year economics such as the theory of the perfect competition and economics of the firm?
die
What are the sciences which involve in economics?
Physics,Mathematics
What has the author Frank H Knight written?
Frank H. Knight has written: 'The economic order and religion' -- subject(s): Christianity and economics 'The ethics of competition, and other essays' -- subject(s): Competition, Economics, Value 'Risk, uncertainty and profit' -- subject(s): Profit, Risk 'The ethics of competition' -- subject(s): Economics, Competition, Value 'On the history and method of economics' -- subject(s): Economics, Methodology, History 'Intelligence and democratic action'
Explain the term global competition?
"The definition of Economics is 'The Management of the Scarcity of Resources'." Competition for scarce resources - including Air, Water, Food and Shelter - is going to press Economics into a tither.
What has the author F Machlup written?
F. Machlup has written: 'International monetary economics' 'The economics of sellers' competition'
What is the government's role in laissez faire economics?
to help maintain competition
What use is the concept of perfect competition in business economics?
circular flow
Features of managerial economics?
There are several features of managerial economics. They include assessing the market competition, following a pricing strategy, and following legal regulations.
What does the study of economics involve looking at?
The study of economics involves looking at all the activities from production all the way to consumption. This is an overview of how resources are used.
What has the author Paul Chamley written?
Paul Chamley has written: 'L' oligopole' -- subject(s): Competition, Economics, Mathematical, Mathematical Economics, Monopolies, Prices
