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

What is the desire to own something and the ability to pay for it called?

Jessicaleague
Answered: Apr 24, 2024

Demand

1 Answer

332 views

What will a large increase in the cost of producing jeans most likely to result in?

Ambarish Ramasubramanian
Answered: Mar 08, 2019

A large increase in the cost of producing jeans would definitely result in higher jean prices and fewer jeans bought.

2 Answers

323 views

What is the difference between Economics and Business?

I. Klose, Accountant
Answered: Jul 17, 2019

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...Read More

2 Answers

312 views

Why are transfer payments not a component of GDP?

John Adney
Answered: May 17, 2017

GDP measures the final sale of goods and services in the economy. Transfer payments are government subsidies and payments like social security. Therefore, transfer payments are not included in...Read More

2 Answers

298 views

What fact causes the vertical shape of the LRAS curve?

John Smith
Answered: Apr 24, 2024

Resource prices do not change in the short run but will change in the long run.-resources prices will not adjust immediately; in the short run we say resource prices are fixed. as a result, the sras...Read More

1 Answer

298 views

What would the price elasticity of demand equal if the price of a hotel room increases from $70 to $85 and the number of rooms booked decreases from 200 to 150?

John F. connor, Content Marketing executive
Answered: May 10, 2019

Usually, businesses will analyze the price elasticity of demand regarding the costs and purchases in their company. The price elasticity of demand refers to the way in economics that shows...Read More

2 Answers

285 views

What is not correct for product Market?

John Smith
Answered: Apr 24, 2024

Exchange of raw materials-goods/product/commodity markets: Markets used to exchange final good or service. Product markets exchange consumer goods purchased by the household sector, capital...Read More

1 Answer

270 views

Why is the FCC implementing rules that the public does not want?

F. Ray, Student
Answered: Jul 09, 2018

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...Read More

3 Answers

269 views

What is the difference between the depreciation of currency and devaluation of currency?

John Smith
Answered: Apr 24, 2024

Depreciation/appreciation refers to the change in price of a currency primarily as a result of changes in demand and supply under a floating exchange rate environment. For example, when...Read More

1 Answer

269 views

Why aren't U.S. citizens rising up against FCC's attempts to control media?

E. Austin
Answered: Nov 23, 2018

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...Read More

2 Answers

259 views

What is the difference between nominal GDP and real GDP?

John Smith
Answered: Apr 24, 2024

Nominal GDP is a simple total of all goods and services produced in an economy in current dollar terms (i.e. at current prices). Real GDP is a total of all goods and services produced as measured...Read More

2 Answers

253 views

Why do bond prices fall when interest rates rise?

John Smith
Answered: Apr 24, 2024

Example: in january you buy a bond with a face value of 100 from a corporation issuing bonds to raise capital. The coupon rate is 5% which matches the market interest rate of 5%. in june, i...Read More

1 Answer

250 views

What is a price ceiling?

John Smith
Answered: Apr 24, 2024

A maximum legal price that can be charged for a product

1 Answer

244 views

What would happen if researchers developed a new, cost-effective energy source that could replace fossil fuels like oil?

John Smith
Answered: Apr 24, 2024

A decrease in prices and an increase in output-if we created a substitute for fossil fuels, there would be a positive impact on production that would be permanent for the most part. this translates...Read More

1 Answer

242 views

Can you describe the difference between potential and actualoutput and how the two concepts relate to each other?

John Smith
Answered: Apr 24, 2024

Potential output refers to what the economy is capable of producing at full employment capacity. actual output refers to what is being produced. if actual output is below potential output, then...Read More

1 Answer

240 views

Economics Questions and Answers (Q&A)

Related Topics Of Economics

Related