Answer:
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Answer:
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. ... The building blocks of economics are the studies of labor and trade.
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Answer:
$280 billion
Explanation:
An economy reaches the equilibrium when there is an equal amount of supply and demand.
Answer:
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Explanation:
Answer:
The correct answer is A. economists include opportunity cost in zero economic profit, while accountants do not include opportunity cost in zero accounting profit.
Explanation:
Because the economists include opportunity cost in their profit calculation, economic profits always tend to be lower than the accounting profits and economic losses does not necessarily mean that accounting there are accounting losses.
