Explain why economics is considered a social science
What will be an ideal response?
Economics is a social science because it studies the actions of individuals. As a social science, economics considers human behavior, particularly decision-making behavior, in every context.
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According to this Application, over the past few years there has been a ________ increase in ________ of automobile parts from outside the United States and Canada
A) large; imports B) large; exports C) small; imports D) small; exports
An increase in the number of buyers in the market for LED TVs would cause the market demand curve for LED TVs to:
A) shift right. B) shift left. C) stay the same because market demand doesn't depend on the number of buyers. D) shift left or right depending on whether the new buyers purchase more or less than existing customers at each price.