In accounting, the other assets is considered as non-current asset as it is not usable or convertible in cash in 1 year or operating cycle of the business
According to Hal R. Varian of University of California at Berkeley,
Theory has a role in economics. It is not just an intellectual pursuit for its own sake, but it plays an essential part in economic research. Economics is a policy science and, as such, the contribution of economic theory to economics should be measured on how well economic theory contributes to the understanding and conduct of economic policy. Economics is a policy science because part of the attraction and the promise of economics is that it claims to describe policies that will improve peoples’ lives. This is unlike most other physical and social sciences. Sociology and political science have a policy component, but for the most part they are concerned with understanding the functioning of their respective subject matters.
Role of theory in policy science:
1.Theory as a substitute for data- In many cases we are forced to use theory because the data that we need are not available. Suppose, for example, we want to determine how a market price will respond to a tax. We could estimate this effect by running a regression of market price against tax rates, controlling for as many other variables as possible. This would give us an equation that we could use to predict how prices respond to changes in taxes.
2.Theory tells what parameters are important and how we might measure them
3.Theory helps keep track of benefits and costs- This brings up the important point that the correct way to measure an economic benefit or cost can only be determined in light of a theoretical model of choice: a specification of what objectives and the constraints facing an economic agent.
How do oligopoly and monopoly affect the unemployment rate here in the Philippines?
Oligopolies and Monopolies affect the unemployment rate here in the Philippines in a positive way by being able to provide jobs for many people. Between the two though, I think to have an oligopoly would be a much healthier situation for the country since it is made up of different companies which may have slightly varied requirements in terms of skills and location, thereby provide more chances to people from different locations around the country.
Explanation:
In accounting, the other assets is considered as non-current asset as it is not usable or convertible in cash in 1 year or operating cycle of the business
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B. Pamilihan
Explanation:
According to Hal R. Varian of University of California at Berkeley,
Theory has a role in economics. It is not just an intellectual pursuit for its own sake, but it plays an essential part in economic research. Economics is a policy science and, as such, the contribution of economic theory to economics should be measured on how well economic theory contributes to the understanding and conduct of economic policy. Economics is a policy science because part of the attraction and the promise of economics is that it claims to describe policies that will improve peoples’ lives. This is unlike most other physical and social sciences. Sociology and political science have a policy component, but for the most part they are concerned with understanding the functioning of their respective subject matters.
Role of theory in policy science:
1.Theory as a substitute for data- In many cases we are forced to use theory because the data that we need are not available. Suppose, for example, we want to determine how a market price will respond to a tax. We could estimate this effect by running a regression of market price against tax rates, controlling for as many other variables as possible. This would give us an equation that we could use to predict how prices respond to changes in taxes.
2.Theory tells what parameters are important and how we might measure them
3.Theory helps keep track of benefits and costs- This brings up the important point that the correct way to measure an economic benefit or cost can only be determined in light of a theoretical model of choice: a specification of what objectives and the constraints facing an economic agent.
4.Theory provides a method for solving problems
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Oligopolies and Monopolies affect the unemployment rate here in the Philippines in a positive way by being able to provide jobs for many people. Between the two though, I think to have an oligopoly would be a much healthier situation for the country since it is made up of different companies which may have slightly varied requirements in terms of skills and location, thereby provide more chances to people from different locations around the country.
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