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Economics Questions and Answers (Q&A)

This is not a requirement that is reported, but failure to renew the E&O insurance policy is an offence.

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FCC stands for Federal Communications Commission. They are in charge of regulating some of the media industries which include social media. There are a lot of people who are in favor of net neutrality but this is not something that the FCC wants. They say that they do not care if people are all in for net neutrality because they know that they can solve this issue without the need for the implementation of this program.

This has made people realize that their voices do not count very much because it is still what the agency wants that will be followed. Even if the rules are still the same, people still believe that net neutrality should be implemented but the FCC will continue to not go for it just because they can.

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1. generally accepted ,

2. store of value,

3. stability,it must be stable,not changing always,

4. medium of exchange,

5. unit of payment.

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What does PPF mean? This is the acronym for Production Possibility Frontier. A classic example of this is letter B. The mythical country is called Alpha and it has the chance to produce two goods which are bread and butter. These are two items that may usually go together. Plus, the various items that are needed in order to create the two goods may be related to each other.

If A would be chosen, the resources that are needed for these two separate goods may be different. Remember that in classic examples, there should be a fixed availability of the item that will be considered as a resource. The production possibility curve will usually show the maximum amount of the bread and butter that will be produced by the mythical country.

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High density lipoproteins are the good ones, low density lipoproteins are the ones that are seen to be bad.

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B. Wright

Always excited to learn and talk about new topics

It is best to know the difference between economics and business, especially to students who want to go for the financial career path. These two may go side by side, but they also relatively different from another. Economics is analytically and carefully studying the behavior of humans in terms of limited resources. It is also a branch of social science that studies the actions of individuals based on their decisions that makes an impact on their country’s economy.

Business, on the other hand, is a system in an economy wherein the presence of an exchange of goods and services among two or more parties for money. The main concepts of economics are the relationship of supply and demand where the price of goods vary depending on the demand. While in business, goods or services are fixed, whether it is in demand or not as long as the money is circulating.

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The market economy is a special kind of economy in which the economic decisions and ultimately the market is guided by self-interests and the prices. There is little, if any government intervention or planning involved in the process. Somewhere, the competition does influence the economy and serves as an invisible hand, which guides it as well.

However, the government and the corporations have minimal role in setting this economy. In addition, the central planners or the president doesn’t influence it either. It is purely based on individual interest and the consecutive prices.

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In micro-economic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice of a best alternative cost while making a decision. Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice.

The law of increasing opportunity cost is the concept that as you continue to increase production of one good, the opportunity cost of producing that next unit increases. This comes about as you reallocate resources to produce one good that was better suited to produce the original good.

A benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.

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Most of the people fighting against the FCC are the people within the government, such as New York's Attorney General Eric Schneiderman, believes in a free, open internet because this is all part of maintaining a democracy. People are fighting against this. If the revocation were to go into effect, it would permit the internet service providers to obstruct specific content, charge consumers more to access individual sites, and slow down the quality of content providers that do not pay more.

These lawsuits will begin to model the structure of how we obtain, pay for and view content online. The outcome of this is heavily dependent upon the result of upcoming elections. This is an issue which jeopardizes free speech, and it is a major hot button issue in our society.

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Make his indifference curves steeper, but will not alter the equilibrium position.

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