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Explain What Is Meant By The T

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Issue:

Miscellaneous

 

Written by:

Parthenia C

 

Date added:

January 17, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1224

 

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For example, figures may show that the number of people smoking doubled when the price of cigarettes halved in the 1960's. This does not mean to say that following a similar price reduction today, the response would be the same, as advertising has increased the awareness of the dangers of smoking. Such a difference in behaviour patterns can be explained when we consider that economics is a social science, concerned with people, who have a free will and cannot be made subject to laws...
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Such a difference in behaviour patterns can be explained when we consider that economics is a social science, concerned with people, who have a free will and cannot be made subject to laws. This also explains why many models are generalised, dealing with trends in economic behaviour rather than the choice of the individual, as this varies and is difficult to surmise and predict...
displayed 300 characters

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