Economic exchange
Economic behaviour involves the exchange of one scarce resource for another. When people engage in paid work, they exchange their scarce time, effort, and skill for income, and, when people…
Positive and normative economics
As a social science, economics attempts to use the principles and methods of science to explain economic behaviour. This involves making positive statements about the economic world. Positive statements are those that…
The role of the professional economist
Professional economists apply their skills of description, analysis, model building, and prediction to generate knowledge and, from this, provide advice to private firms, to governments and other organisations. Providing knowledge…
The methods used by economists
Economists use scientific observation and deduction in their investigations. To achieve this they: Describe and measure the exchanges they observe Economists describe changes in economic variables, and measure these changes over time.…
The study of economics
The study of economics involves three related investigations. 1. Why scarce resources are exchanged? 2. How consumers and producers behave as they interact with each other in markets, in their attempt to achieve mutually beneficial exchange? 3. The…
The nature of economics
Economics is the scientific study of the ownership, use, and exchange of scarce resources - often shortened to the science of scarcity. Economics is regarded as a social science because it uses scientific methods…
What is Economics?
What do you think Economics is? Is it a hard science used by bankers to make money? Like alchemists who conjure gold? Is it about politics and accounting? Though its ancient…
DRAWING SIZE REFERENCE TABLE, ARCHITECTURAL AND ENGINEERING DRAWING SIZES
In case you're wondering what is the size of an Architectural or Engineering drawing, these architectural and engineering drawing size reference charts are provided for your convenience and reference. Standard…
