95 Best Economics Questions and Answers (Q&A) - ProProfs Discuss

What is her average total cost, if Pat purchases two mixers and bakes 200 cakes per day?

D. Ronald, Writer
Answered: Jan 09, 2019

In mathematics word problems, there are certain times when you need to determine which deal is best. This means that is it best to have two, three or four items based on the amount of money you...Read More

2 Answers

565 views

What is the classic example of a PPF?

Barry Mclean, Sales Manager
Answered: Apr 19, 2019

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...Read More

3 Answers

536 views

What will an increase in money income lead to if a consumer is initially in equilibrium?

Shivutek
Answered: May 16, 2017

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

4 Answers

533 views

What is a part of the code of conduct?

Wyatt Williams
Answered: Apr 26, 2024

A trust account must be maintained at a safe institution.

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1 Answer

490 views

How money can make life easier?

Ambarish Ramasubramanian
Answered: Mar 08, 2019

Money helps in easier buying and selling.

3 Answers

482 views

Who benefits from the transaction when a person rents an apartment?

Gerhard.orlet
Answered: Apr 26, 2024

Both the renter and the landlord

1 Answer

445 views

What must the society do since the resources used in the production of goods and services are limited?

Ambarish Ramasubramanian
Answered: Mar 08, 2019

Since the resources used in the production of goods and services, society must make choices about how to use resources.

2 Answers

429 views

How many pounds of potatoes will be consumed in total if the long-run supply curve is horizontal?

Markda John
Answered: Jan 02, 2018

The person above me states that the answer is 50,000 potatoes. This makes sense to me. The demand is expected to stay horizontal. This means that the demand has plateaued, and will stay the same,...Read More

2 Answers

405 views

What is the one problem with compensation systems?

Mattyoung
Answered: Apr 26, 2024

Sometimes a manager is rewarded for an objective other than maximizing profits

1 Answer

402 views

What happened to the demand if prices and revenue move in opposite directions?

Claire_C
Answered: Apr 25, 2017

Prices and revenue move in opposite directions does not necessarily mean that the demand is unit elastic. It will be unit elastic if the movement(changes) of 'price' and 'demand' are proportional....Read More

2 Answers

387 views

What are the causes and effects of inflation, disinflation and deflation on an economy?

John Smith
Answered: Apr 26, 2024

Inflation erodes the standard of living for those on a fixed income, it reduces the&092;r&092;nreal value of investments because the loans are paid back in dollars that buy less,...Read More

2 Answers

384 views

What causes the demand curve to shift?

Jamescpa
Answered: Feb 03, 2017

The increase/decrease in price may not necessarily be resulting to the shift of the demand curve. The best answer is the increase/decrease in need. Because, as the need of the product...Read More

5 Answers

377 views

What would be the best way to eliminate gas lines?

John Smith
Answered: Apr 26, 2024

Allow the forces of supply and demand to function

1 Answer

373 views

What is one problem with compensation systems?

R. Barnes, Analyst
Answered: Feb 25, 2019

We all know that there are some managers that are given compensations and rewards for thinking of a new idea that may have never been tried before. This is good because people deserve to be...Read More

2 Answers

353 views

Which person has the comparative advantage in each area?

Laurenmlbc
Answered: Apr 26, 2024

TJ has the comparative advantage in folding letters and Colton has the comparative advantage in sealing envelopes.

1 Answer

350 views

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