what is the difference between h1 and h2 economics?
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While H2 Economics covers Market Structure, H1 Economics does not. Another difference is the format of the papers. H2 Economics has Paper 1 (2 cases) and Paper 2 (3 essays), while H1 Economics only has one paper (2 cases plus 1 essays);
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This is the single big distinction: a pure Keynesian believes that consumers and their demand for goods and services are key economic drivers, while a supply-sider believes that producers and their willingness to create goods and services set the pace of economic growth.
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Economics is divided into two different categories: microeconomics and macroeconomics. Microeconomics is the study of individuals and business decisions, while macroeconomics looks at the decisions of countries and governments.
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Originally Answered: What is the difference between H1 and H1B visa? H-1 visas no longer exist in the United States of America. They were for people of “distinguished merit and ability” to “perform temporary services of an exceptional nature requiring such merit and ability.” They existed from 1952 to 1990.
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Externalities are impacts of economic actions that affect people who were not directly involved with those economic actions. The difference between the two kinds that you mention is that negative externalities harm people while positive externalities are beneficial to them.
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Microeconomics is the study of particular markets, and segments of the economy. ... Macro economics is the study of the whole economy. It looks at 'aggregate' variables, such as aggregate demand, national output and inflation.
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The basic difference between both concepts is that while first law efficiency solely relates to the specific technology applied in order to satisfy certain tasks, for example, illumination and space heating, the concept of second law efficiency takes into account both the actual technology employed and the technology ...
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Consequently, there are two sources for our welfare: Services of natural capital (ecological services) and manmade capital. And that's the main biggest difference between the conventional (neoclassical) and ecological economics. Conventional economists have a narrow minded focus on manmade capital and services.
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Unlike Ricardian Model, the model suggested by Heckscher-Ohlin assumes that there are two factors of production, namely, labor and capital. One country has comparative advantage over the other because of the differences in relative amounts of each factor.
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The Economics has both micro and macro aspects within its purview. ... Economics concentrates only the economic aspect of the problems but Business Economics deals with some non-economic aspects of the problems along with the economic aspects. Business Economics focuses on the theory of profit only.
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Microeconomics is basically the study of markets (supply, demand, price, elasticity, economies of scale, and such), while macroeconomics is the study of the national economy (GDP, unemployment, inflation, growth). Conceptually, macro is aggregated micro (aggregated means “added up”).
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Its two major divisions are microeconomics, which starts with individual decision-making, and macroeconomics, which focuses on the overall result. Another way to divide economics is by whether it's theoretical or applied.
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The main differences between micro and macro economics Small segment of economy vs whole aggregate economy. Microeconomics works on the principle that markets soon create equilibrium. In macro economics, the economy may be in a state of disequilibrium (boom or recession) for a longer period.
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There is in fact a great deal of overlap between these two areas of economics, but the key distinction is that industrial economics is concerned with groups of firms that make up sub-sectors and sectors and how interactions among firms impact on their performance, whereas microeconomics is concerned with individual ...
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The first way to split economics is microeconomics and macroeconomics. Microeconomics – concerned with individual markets and small aspects of the economy. Macroeconomics – concerned with the whole aggregate economy. Issues such as inflation, economic growth and trade.
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The differences between the classical economist and Keynesian economist are in their view of government. Classical economists think that market is able to regulate itself without any interference of the government. On the other hand Keynesian economist emphasize that government must play bigger role on the markets.
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The main difference between the expenditure approach and the income approach is their starting point. The expenditure approach begins with the money spent on goods and services. Conversely, the income approach starts with the income earned from the production of goods and services (wages, rents, interest, profits).