Title: Economics Homework Help
1Economics Homework Help
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3Best Economics Homework Help
- Economics homework help is becoming the priority
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4Economics Homework Helper
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5What Is Economics?
- Economics is the social science used to study the
production, distribution, and consumption of
goods and services. The major focus of economics
is on the behavior and interaction of the
economist. There are two types of economics the
first one is macroeconomics, and the second one
is microeconomics.
6Basic Concepts Of Economics
- Scarcity
- It is a basic concept of economics that is used
to describe the availability of limited resources
to meet the unlimited needs. For example the
technology in many countries is still limited but
the demand for technology is unlimited. Therefore
scarcity allows us to use the least resources to
meet the high demands.
7Demand and Supply
- The demand and supply is the major concept of
economics. It is known as the pillar of market
economy. Demand refers to the quantity of goods
and services that the customers want to buy at
the given price. On the other hand the supply
refers to the availability of goods and services
for the vendors and suppliers to sell at the
given price.
8Cost and benefit analysis
- It is the major point for the business. Because
everyone in the industry wants to make money. It
is based on the comparison between cost and
benefits of various products and services in
order to increase their revenue as high as it can
be.
9Incentives
- It is similar to the extra money that is paid by
the employer to the employee in order to motivate
themself to perform the job with more effort.
Economics has two types of incentives i.e.
extrinsic incentives and the intrinsic
incentives. The extrinsic incentives provide the
motivation to the person to accomplish the task.
On the other hand the extrinsic incentives are
based on the money, discounts, rewards and bonus
extra.
10Economics Problem Solution Methods
- Analysis
- It is the process that is based on some points
i.e. the past data observation and the problem in
hand. With the help of this technique we take the
estimation of what choice will be made by the
people in irrational bases and why they would
make them.
11Abstraction
- In this process we break down the problem into
various parts or compete to find out which factor
influencing it.
12Why Do Students Need Economics Homework Help?
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16The complete solution within due date
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