Question

give difference between 1)utility and welfare. 2)demand and supply. 3) savings and investment.

please don't post rubbish answer if you don't know!!

Answer 1

1.  the difference between them is stark and important. “Utility” is a construct of descriptive or “positive” economics. ... “Welfare” is a constructof normative economics. While “utility” is a thing we imagine economic agents maximize, “welfare” is what economists seek to maximize when they offer policy advice.

2. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as thedemand relationship. Supply represents how much the market can offer.

3. When you "invest," you have a greater chance of losing your money than when you "save." Unlike FDIC-insured deposits, the money you invest in securities, mutual funds, and other similar investments is not federally insured.


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