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Karo-lina-s [1.5K]
3 years ago
15

Critically explain Robbins definition of economics?​

Business
1 answer:
arlik [135]3 years ago
4 0

Answer:

In his landmark essay on the nature of economics, Lionel Robbins defined economics as. “the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”

Explanation:

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Consider the​ following: Year Population ​(Millions) Real GDP ​($ Billions) GDP Deflator 2018 121 2019 125 Calculate the percent
horrorfan [7]

Answer: 3.59%

Explanation:

Real GDP per capita is the Real GDP divided by the population of the country.

Real GDP per Capita 2018

= 1,150,000,000/ 10,080,000

= 114.0873

= $114.0873

Real GDP per Capita 2019

= 1,430,000,000/ 12,100,000

= $118.1818

Percentage Change

= \frac{118.1818 - 114.0873}{114.0873}

= 3.59%

5 0
3 years ago
Margin of Safety The Ira Company has sales of $800,000, and the break-even point in sales dollars is $664,000. Determine the Ira
attashe74 [19]

Answer:

17%

Explanation:

Margin of safety = (sales - sales at break-even point ) / sales × 100 = $ 800 000 - $ 664 000 / $ 800 000 × 100  = 17%

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