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What are the 7 branches of home economics?
These areas are grouped into seven major areas: Foods And Nutrition. Home Management. Clothing And Textile. Consumer Education. Housing And Interior Decor...
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How is national income computed?
The national income is calculated by adding the total output of the companies in the economy. The method shows the contribution of each sector to the nati...
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What is the concept of economic freedom?
Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are fr...
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What is the theory of political social and economic equality of men and women?
Feminism is a range of social movements, political movements, and ideologies that aim to define and establish the political, economic, personal, and socia...
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What equals implicit cost?
In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in ...
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What is a country ap human geography?
A nation is a group of people with common cultural characteristics, whereas a state is an area with defined boundaries that has sovereignty within its bor...
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How was the 2009 financial crisis solved?
The American Recovery and Reinvestment Act extended unemployment benefits and suspension of taxes on those benefits through 2009. It provided $54 billion ...
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What is Adam Smith natural law?
Natural Law: Adam Smith proposes natural law in economic affairs. He advocated the philosophy of free and independent action. If every individual member o...
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What are five characteristics of pure competition?
The following characteristics are essential for the existence of Perfect Competition: Large Number of Buyers and Sellers: Homogeneity of the Product: Free...
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How does the prices of complements and substitutes affect the demand of a commodity?
Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When t...
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