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hammer [34]
3 years ago
9

Write a three- to five-sentence paragraph that defines economics. Based on your definition, explain why it is difficult to consi

der economics an exact science. You may want to consider how economists approach economics to help you explain your answer.
Business
1 answer:
erastovalidia [21]3 years ago
8 0

Answer: See explanation

Explanation:

Economics is referred to as a social science that is concerned with how goods are produced, how they're distributed and how they're consumed. Economics is the social science that studies why human beings behave the way that they do.

It is difficult to consider Economics as a science because it lacks a hypotheses that's testable. Also, there is lack of consensus and the scientific method is not followed in Economics.

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Lisa and lena own a shop together. they are partners in their business of 2 years. lisa is a designer; lena is a seamstress. lis
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The agent of Lisa would likely tell her about the process and the rules in regards of the disability buy and sell insurance. The agent would likely explain that if she acquired this type, the insured person would likely be protected when the person has exhibit a disability and that having this type of insurance have benefits and are likely to be tax free.  
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3 years ago
A company manufactures various-sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $50
Artyom0805 [142]

Answer:

a. $(8000)

b. Company should choose alternative 1 and make bottles.

Explanation:

Particulars               Make Bottles            Buy Bottles  Differential

                                Alternative 1             Alternative 2

Purchase Price                  0                       $37                               $(37)

Freight Charges                 0                       $4                                $(4)

Variable cost                    $33                                                          $33

Fixed Cost                        $17                     $17                                  0

Cost per unit                    $50                    $58                              $(8)

Income / (Loss)                 $50,000            $58,000                      $(8,000)

b. The company should choose alternative 1 and make bottles. The buying of bottles will cost company loss of $8,000.

7 0
3 years ago
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, ope
Paul [167]

Answer:

The supply of the output from the hydroelectric power plants to decrease

Explanation:

As mentioned in the problem statement now an extra task is added to the process of electricity production. This will slow down the output rate of electricity and hence it can be safely concluded that the supply of electricity will decrease.

8 0
3 years ago
For the month of September, Florida, Inc., incurs a direct materials cost of $12,000 for 7,500 gallons of strawberry lemonade pr
Blizzard [7]

Answer:

The difference in the direct materials cost per equivalent unit between the two months is $0.70.

Explanation:

First calculate the direct cost per equivalent unit in September

Direct cost per equivalent unit  = Total Cost / Total Equivalent units

                                                    = $12,000 / 7,500

                                                    = $1.60

<u>Difference between the two months.</u>

September   =  $1.60

Less August = ($0.90)

Difference      = $0.70

8 0
3 years ago
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