Question and answer
The most efficient combination of resources in producing a given output is the combination that:
The most efficient combination of resources in producing a given output is the combination that: can be obtained for the smallest money outlay.
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Asked 9/23/2013 3:30:40 PM
Updated 177 days ago|6/24/2018 7:05:39 AM
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This answer has been confirmed as correct and helpful.
Edited by Masamune [6/24/2018 7:05:38 AM], Confirmed by Masamune [6/24/2018 7:05:39 AM], Masamune [6/24/2018 7:05:39 AM]
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1) The scientific method is: not applicable to economics, because economics deals with human beings. used by economists and other social scientists, as well as by physical scientists and life scientists. analysis that moves from broad generalizations called laws to theories and then to hypotheses. also known as the economic perspective.
Question
Not Answered
Updated 120 days ago|8/20/2018 6:20:27 AM
1 Answer/Comment
The scientific method is: used by economists and other social scientists, as well as by physical scientists and life scientists.
Added 120 days ago|8/20/2018 6:20:27 AM
This answer has been confirmed as correct and helpful.
Confirmed by matahari [8/20/2018 6:22:18 AM], matahari [8/20/2018 6:22:19 AM]
The production possibilities curve tells us:
Question
Expert Answered
Updated 91 days ago|9/18/2018 12:49:09 PM
1 Answer/Comment
The production possibilities curve tells us the combinations of two goods that can be produced with society's available resources.
Added 91 days ago|9/18/2018 12:49:07 PM
This answer has been flagged as incorrect.
Unflagged by Masamune [9/18/2018 5:11:31 PM], Confirmed by Masamune [9/18/2018 5:11:31 PM], Masamune [9/18/2018 5:11:31 PM]
Purposeful behavior means that
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Expert Answered
Updated 91 days ago|9/18/2018 12:54:17 PM
1 Answer/Comment
Purposeful behavior means that people weigh costs and benefits to make decisions.
Added 91 days ago|9/18/2018 12:54:15 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [9/18/2018 1:13:46 PM], Sting [9/18/2018 1:13:47 PM]
The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy
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Expert Answered
Updated 282 days ago|3/11/2018 4:19:43 PM
1 Answer/Comment
The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy. This statement best describes the concept of: consumer sovereignty.
Added 282 days ago|3/11/2018 4:00:43 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/11/2018 4:19:44 PM]
The division of labor means that: workers specialize in various production tasks. labor markets are geographically segmented. each worker performs a large number of tasks. unskilled workers outnumber skilled workers
Question
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Updated 27 days ago|11/21/2018 3:20:41 AM
1 Answer/Comment
The division of labor means that: workers specialize in various production tasks.
Added 27 days ago|11/21/2018 3:20:41 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/21/2018 5:30:57 AM], jeifunk [11/21/2018 5:30:58 AM]
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