What shows the combinations of two goods that provide a person with equal amounts of utility?
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Different foods provide the same nurishment.\nA length of chain and steel cable can perform the same task.\nA horse and bike can get you where you want to go.
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one sided only has the upper limit and anything below/lower limit and anything above\n\n2 sided gives both the upper and lower range for the value to fall in between
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This is true only if the items are distinct. For example if the data set is the 26 letter alphabet and we take letters without replacement, then the number of permutations (order matters, so a,b is different from b,a) is 26*25 while the number of combinations (order does not matter, taking a, then b is the same as taking b, then a) is 26*25/2. \n\nIf our data set contains copies, like the letters in this sentence, then combinations of identical letters would not count doubly (so, a,a is not a seperate permutation from a,a).
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You need to find the point where supply equals demand\nD = S\n200p + 35,000 = -p^2 + 400 - 20,000, and solve for p
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cmon its not that hard\n\nunion - you would add up both lists into a new list testing to make sure theres no dupes\n\nintersection youre looking for what exists in both lists
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the answer is 3 x 4 x 2 = 24\n\nThe person can pick 3 diff economics class but from there she can choose 4 diff math classes, so for each math class there are 4 other varables she can choose from. So there are 3 x 4 =\n12 chocies she can do with the first 2 sets of choices. With the extra history ones the answer is double because there are now twice has many outcomes.
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Law of Supply and Demand:\n\nIn a nutshell - If more people want something the more expensive it will be until there is more produced. When there is an excess amount produced (more than people want) Then the price will be less.
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Indifference Curves\n\nThere are several economic concepts that I want you to understand before you end this course. Although this is not an economics course, I believe it is really important for anyone who is going to deal with commerce to understand these basic facts. In this course we will begin by talking about what are called "indifference curves". We will then move on to talk about preferences and prices. After we understand these characteristics of an individual consumer, we will move on to see how they combine to produce what is called "the demand curve". From there we will move to discuss the economics of supplying products and what is called "the supply curve". We will learn about changes in quantity of demand, changes in quantity of supply and the very different concepts of changes in demand and changes in supply.\n\nUsing Graphs\n\nThis work will, of course, involve us in using numbers since economics is about numbers, but many of the arguments can be understood by using graphs at the same time that we use numbers and that is where we will begin. The first graph we look at represents an individual indifference curve. The two axes of this graph represent two different commodities, goods or things that a consumer could have. One of them is Money In the Pocket, which we show along the y-axis. The other, just to be concrete, is Hamburgers In the Belly, which we show along the x-axis. A particular individual starts out with a certain amount of money in his pocket as shown at Point A, let’s say twenty dollars. This person is indifferent between having twenty dollars and no hamburgers in his belly and having eighteen dollars in his pocket and one hamburger in his belly. That other situation is shown as the point labeled "B".\n\nWhat does this mean? It means that if we offer to sell him a hamburger for a price less than two dollars, he will like this. We show such an alternative by the point labeled "C". If he moved from Point A to Point C, he would be keeping to the right, or above, his indifference curve, and this is generally taken to mean that he would prefer that situation. On the other hand, if we offer to sell him a hamburger for three dollars, we would be inviting him to move to the point labeled "D". This is to the left, or below, his indifference curve and presumably he would not prefer it.\n\nThe specific example I’ve given here is of a kind where motion is possible only in one direction. That is, the customer may increase the number of hamburgers in his belly by giving money to a retailer, but if the hamburgers were to be somehow removed from his belly, it’s unlikely that anyone would give him back the money.\n\nWe can learn more from looking at this curve. The line, for example from Point A to Point B, has a slope. This slope is determined by the amount of money that has to be paid for one hamburger, in this case we say one dollar. So the slope of this curve, if we view it in the normal sense, is one dollar per hamburger. This means that the indifference curve for some other products, for example a potato chip, would rise much more slowly, since no one is going to pay a dollar for an individual potato chip. On the other hand, the indifference curve for a lobster dinner would rise much more steeply because people would, presumably, be willing to pay quite a lot more for a lobster dinner.\n\nIn Figure 1, I have this with pocket money on the vertical axis and Hamburgers In the Belly on the horizontal axis so that the slope of the curve exactly corresponds to the price of hamburgers. Those of you who have studied calculus will realize that this is a downhill slope and its actual calculation produces a negative number. So to be strictly accurate, we have to say that the unit price of the goods represented on the horizontal axis is given by the negative of the slope of the curve. This is represented by the equation P = -D M/D G.\n\nStates\n\nTo come b
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entrepenuership (the selling of items)
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Anything is possible depending on the person.
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it is a curve that hold profit constant and shows all the combinations of two goods that can create that profit.
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One object composed of (two) joined, similar parts that are dependent upon each other: \n\na pair of pliers\na pair of pants\na pair of scissors
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stuff\n\nlots and lots of\n\nstuff
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You must graph the inequalities and see where the vertices of the resulting polygon are.  Then plug the coordinates of them into your storage space function and see which gives the highest amount.\n\nLet x = # of cabinet A and y = # of cabinet B\n\nx>= 0\ny >= 0\n3x + 6y <= 60 (square feet inequality)\n75x + 50y <= 600 (budget inequality)\n\nStorage function: S = 12x + 18y
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Economics has both a quantitative and a qualitative nature. A simple understanding of comparisions, fluctuations and changes are necessary to comprehend the rudiments.
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Everything would be bartered.  Trading either another good or some type of service for the object.
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This graph helps us to show what happens when a quantity y is inversely proportional to another quantity x.\n\nAgain, it shows us that a computer algorithm implementing y=(1/x) for the order of efficiency of the algorithm..