Are there any multiple choice answers??? Or like... is it just from the text or??
Answer:
d). they base their conclusions on models that make different assumptions.
Explanation:
Economist are persons who studies economics and the past historical trends and then make them to forecast the future trends. Basically an economists analyzes the issues including consumer demand or sales to help an organization maximize the profits.
When an economist is given two different government policies and is ask to choose between them, they tend to disagree because economist generally make their conclusions on the basis of their models which end up in having different assumptions.
Models help the economist to predict and explain the economic behavior in the real world.
Hence the answer is (d)
A giffen good is a good whose demand rises when the price rises, which is opposite to the laws of demand because the laws of demand state that a rise in price will result in a reduction of demand. An example can be a staple food like bread. If the price of bread rises, people will buy it more because they'll have to cut back on other more expensive things, of course this applies in theory.
Answer:
The buyer has no recourse because he/she did not specify which one he wanted included in the purchase agreement
Explanation:
In the purchase agreement, the seller made an offer buy the buyer failed to specify exactly what he/she wanted and the colour or arrangement, The buyer failed to clarify the terms for the purchase agreement hence he cannot sue the seller.
