start text, O, p, p, o, r, t, u, n, i, t, y, space, c, o, s, t, space, o, f, space, e, a, c, h, space, u, n, i, t, space, o, f, space, g, o, o, d, space, X, end text, equals, left parenthesis, Y, start subscript, 1, end subscript, minus, Y, start subscript, 2, end subscript, right parenthesis, divided by, left parenthesis, X, start subscript, 1, end subscript, minus, X, start subscript, 2, end subscript, right parenthesis, start text, space, u, n, i, t, s, space, o, f, space, g, o, o, d, space, Y, end text. For more, see the first blog in this series, a Q&A with Elizabeth Schwab, Psy.D., Associate Department Chair for Business Psychology and Program Chair for Behavioral Economics. Health insurance and its role in the economy, An in-depth analysis of the banking system of Russia, Discuss the buying power in Eastern Europe, Income changes and consumer choice changes in 2022, Discuss the introduction of a guaranteed national income, The effects of the minimum wage on the economy of your country, Discuss child labor in the cotton industry, Discuss gender inequality in poor countries, Discuss how the United States economy works, Discuss inflation and economic growth in your country, Discuss the concept of heterodox economics, Discuss currency inflation trends in your country. The PPC would be a straight line with a constant slope from the X-axis to the Y-axis. Traditional economic system The traditional economic system is based on goods, services, and work, all of which follow certain established trends. Its powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions. 1. Direct link to Siddhant's post Answer by example - In th, Posted 3 years ago. Students get really excited when you tell them a zombie apocalypse has occurred! It also helps students realize that economics isnt as difficult as it seems and a lot of the concepts used in economics are concepts they actually use in their everyday lives! How to save money by using the principles of economics, The best way to achieve profit maximization, The impact of COVID-19 on the economy of Germany, Economics classes should be mandatory in all schools in the US, Discuss the pros and cons of economic forecasting. In this way, they also develop a sense of responsibility and will find out early on the essence of spending money wisely and saving for emergency purposes in the future.