Question

anyone taking/took economics?

Answer 1

taking basic economy this semester :)

Answer 2

awesome bro message me!

Answer 3

Fo sho!

Answer 4

I have macroeconomics this semester.

Answer 5

would any of you please help me with just a few questions? Im just about to finish an economics class, and I really need to finish soon! @arbabshah @Zedd @auztun

Answer 6

what is the difference in macroeconomics and economics? @ArbabShah and message me @CNmubarak

Answer 7

Microeconomics basically focuses on market segments like individuals consumer behavior and stuff while macro focuses on the economy as a whole its like a big picture of the economy...

Answer 8

Im doing macroeconomics

Microeconomics is the study of the parts of the economy or the individual sectors of the economy. E.G: individual pricing by firms and purchasing decisions by households.

Macroeconomics is the stud of the economy as a whole. It invokes the study of broad aggregates. E.G: Total spending, Total Output & Total income, and problems such as inflation, unemployment and low economic growth.

Answer 9

1.How do resources and technology affect a country’s production possibilities?
2.Consider the centrally planned economy of the Soviet Union or China. Choose one and explain how its experience shows the problems with a centrally planned economy.
3.Why was the New Hampshire state legislature unable to take control of Dartmouth College?
4.A company has a monopoly on a glue used in TVs and phones. The company can make as much of the glue as it wants. It chooses to make less glue than it is able. Why?
5.Describe how developed countries differ from developing countries in regard to city population and infrastructure.
6. Elena is looking for an apartment. The fact that Elena misses two days of work at the supermarket to visit several different apartments available for rent is an example of her _________ costs @arbabshah @auztun

Answer 10

are you in connections? @CNmubarak

Answer 11

nope, Ashworth why?

Answer 12

1) resources and technological advancement in an economy means that it is better off in producing a certain commodity or in other words it has a comparative advantage compared to other economies.

2) problems like no innovation, no profit incentive so no investments by private individuals, no consumer sovereignty

3) dnt knw :/

4) because it will try to maximize its profit at the lowest quantity it has to produce as monopolies aim is to maximize profit and reduce output that is to exploit the consumer at the fullest.

5) Developing countries usually have low levels of affluence and high unemployment rates while developed countries have developed economies which translate to high GDP per capita. Another difference is that developed countries are normally associated with advanced technology, good infrastructure and a steady government, whereas the developing countries usually suffer from diseases, natural disasters and war.

6) opportunity costs


hope this helps :)

Answer 13

thank youuu!!! @ArbabShah