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What is a fundamental assumption?
accounting assumption is nothing
What is the assumption of completeness (Economics)?
The assumption of completeness in economics posits that consumers can evaluate and rank all possible bundles of goods and services according to their preferences. This means that for any two bundles, a consumer can determine whether they prefer one over the other or if they are indifferent between the two. This assumption is fundamental for the construction of utility functions and the analysis of consumer choice, as it ensures that preferences are well-defined and ordered.
What is the basic assumption of economics?
they lik money
The ceteris paribus assumption is used in economics?
yes
A basic assumption of economics is?
A rational self-interest.
What are the importance and goals of mircoeconomics?
it is important on understanding the individual pparty of economics it is impotant in knowing the theory and assumption of economics it is important for the economist in planning especialy for the governerment planners it is important on understanding the individual pparty of economics it is impotant in knowing the theory and assumption of economics it is important for the economist in planning especialy for the governerment planners
Who first proposed the fundamental assumption behind quantum?
Max Planck
Who proposed the fundamental assumption behind quantum mechanics?
Max Planck
How does economics relate to business?
A basic understanding of Economics plays a fundamental role in achieving success in Business.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
Fundamental concepts underlying the discipline of economics?
Scarcity and Choice
Select the items below that descive rational behavior in economics?
It is a key assumption used in the study of economics and the choices that people make in pursuit of satisfaction.
