Answer:
What are the 3 basic questions that every economic system must answer? What to produce? How to produce? Whom to produce it for?
Explanation:
we learned this in 8th grade
Answer:
The correct answer is: marginal analysis
Explanation:
Marginal analysis allows individuals to maximize their utility by weighing marginal benefits against marginal costs. Doing this analysis prior to decision making leads to optimal decisions. In economic theory, whenever marginal benefit equals or exceeds marginal costs, a rational decision is being made.
The correct answer is "prediction models". Political scientists have developed prediction models that help to clear doubts about the veracity of the presidential elections. This tool takes into account economic and sociological factors as well as public opinions to predict who is the winner in upcoming presidential elections.
Answer:
C. When excess capacity exists, cost can increase
Explanation:
The only False statement in all the given four statement is option C that is When excess capacity exists, cost can increase.
Clearly, the above statement is false because when by the principle of economies of scale at higher capacity, the overall cost of production decreases. ( in simple terms, higher the supply, lesser will be the demand.)
