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    What is absolute advantage? What is comparative advantage?

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Questions & Answers

what is a linear function...?
obondo Reply
it is the line which shows what a consumer could afford to buy given her budget
Moeti Reply
calculate the price of elasticity of demand of quantity K who's quantity demanded was 50 units when the price was 10 but when the price rose to 15 the quantity demanded was 30 units and interpret your answer
Yahoo Reply
hi I appreciate you so much for this contribution that you are making for help thanks
Goudi Reply
hi
Adovor
What is Budget line!?
Rafiuddin
what equilibrio from market
Nhato Reply
this is makerts data over the equilibrium of demand and supply
Apiyo
define macroeconomic
Cabdulahi Reply
Macroeconomics studies economy as the whole
Mosika
I want to please learn more about economics, I'm a high school student in cameroon
Ngalle
ok u tel wht u type of topic u study
Sheikh
Theory of the firm, theory of income distribution, the price theory, introductory ideas, national income, international trade, economic growth and development, trade cycle & managing the economy. Those are my topics am passing through for now
Ngalle
what is strong ordeniry
John Reply
what is scale of preference
Bah
gn
Nisi
which subject that talk to you
Sagar
economices
Sheikh
defination
Sagar
wht defination
Sheikh
just I admission in bs economics
David
Define Micro Ecnomics?
Maryama
under the country economics is called microeconomics
David
maryama u difine me
David
am fro Kenya wat is disposibe salary
Apiyo
hi, I'm From Somalia what is Invisple Hand Of Adam Smith?
Apdi
what is macro economics
Abshir
define macroeconomic .
Cabdulahi
what is division of labour
Bah Reply
micro means unit and Marco means the aggregate
Imran Reply
r8
Royalranjan
yup....
Aman
what is invisible hand
Apiyo
an unobservable market force that helps demand and supply of a good to reach at the equilibrium automatically is the invisible hand.
Royalranjan
i need more explanation on Heteroscedesticity in econometrics
Alhassan
sry bro this is my out of range as now I am a bachelor of economics but I am giving you my best
Royalranjan
what is scale of preference?
Bah
generally what are the principle of economics
Apiyo
Bah Bah scale of preference = is tabular form for consummer want,is the arrangement of consummer goods which can help individuals to make choice out of the arrangement
Alhassan
unsolved practical of this chapter
Bhavna Reply
unsolved practical answer of this chapter
Bhavna
what do you mean by macro
Sandeep
please is economics difficult
Abena
no it's very simple
Nisi
are u in the university
Abena
Which university
Mosika
don't get your point@Bhavna_sharma
Royalranjan
university of education what about you
Abena
Where actually
Mosika
a
Apiyo
yes..
Nisi
economics is not difficult rather it is so easy if someone realy try to understand it
Nadeem
ya u r right nadeem
Nisi
right
Pruthviraj
my dear elder brother and sister,plz let me understand actually what are you talking about. I am your junior,a bachelor of engineering.so plz co-operate me to make my economics knowledge sharp as all of you
Royalranjan
sry bachelor of economics
Royalranjan
am studying economics and am asking weda its difficult
Abena
no it's very simple and easy to capture
Royalranjan
just be focused
Royalranjan
ok
Abena
this is not room for chart and we have to cooperate to help each other in the field of economics
Alhassan
ok
Abena
very sorry
Abena
why sorry brother
Royalranjan
dear brother@alhassan_nazif according to economics we must know what the utilities of something and how can we get maximum satisfaction from it.So before without knowing the pros and cons of something we can invest our precious time on something.what Economics actually demands. Respect your opinion
Royalranjan
I don't understand the difference of micro and macro economics how can u help m ooo
Apiyo
Do you know what is the difference between your home and your country?
Royalranjan
micro is small macro is large
Abena
can we discus accounting in dis point
Apiyo
yes this is correct
Sandeep
why is scarcity center of economics
Kojo Reply
Because you can't make choices without considering how scare resources are and how they affect the society.
Mosika
as we know that our wants are unlimited and the resources are limited.so we have to decide which wants should be fulfilled first and which could be postponed.It is choice,that means we have to make a choice to get maximum satisfaction from limited available resources.
Royalranjan
In economics scarcity is the vital problem of economics because human wants are unlimited and resources are limited so that it always become a magnitude issue in economics. If one want is satisfied another crop up to its place that's why it is the center of economics .
dilleswar
what is homethetic function?
dilleswar
A homethetic function is a monotonic transformation of an homogeneous function. Ex-: If f(X)=2x then monotonic transformation of this function is g{f(X)}=2x+1
Royalranjan
thanks Moharana
dilleswar
welcome @dileswar
Royalranjan
Factors affecting demand
Mubale Reply
(1) Price of the commodity (2)Non price determents
Royalranjan
Under what circumstances would opportunity cost b zero
Nicholas Reply
if there no alternative available
Alhassan
where the resource has no alternative use
Solomon
what is price elasticity of demand for life saving drugs
Stella Reply
price elasticity of demand for life saving drugs is constant or horizontal
AYARIGA
why is it constant or horizontal
Moeti
good question
bakhtyar
what is technical progress?
Pervaiz Reply

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Source:  OpenStax, Microeconomics. OpenStax CNX. Aug 03, 2014 Download for free at http://legacy.cnx.org/content/col11627/1.10
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