Economics: the study of the effect of scarcity on a society and how it
allocate its resources to the production of goods and services in order to
satisfy unlimited wants.
Difference between microeconomics and macroeconomics: microeconomics
makes a decisio
a) Is an idea or concept that expresses the problem at hand. Alternatively,
design space is an imaginary space of the design ideas and alternatives that
contain all the possible solutions to our design problem. The bigger it is, the
more the nu
a) To maximize the difference between input and output. Since the input is
variable and the output is also variable.
b) The criteria was to maximize output.
c) To minimize input.
By using the concept of incremental cost to compare di