In terms of economics...?

Question

please define these:

All other things equal
Ceterus paribus
Production Possibilities Frontier
Opportunity Costs in the PPF
Economic Growth in the PPF
Gains from Trade
Absolute Advantage
Comparative Advantage
Barter
Circular-Flow Diagrams
The Household
The Firm
Markets for Goods and Services
Factors of Production
Factor Markets

Answer 1

all other things equal
means other things remaining same. for eg. there shall be no change in assumptions and exceptions else the law will not hold good

Ceteris paribus
With all other factors or things remaining the same.
it is an alternative in writing other things remaining same, unchanged or equal.

PPF
In economics, a production possibilities curve (PPC) or “transformation curve” is a graph that shows the different quantities of two goods that an economy could efficiently produce with limited productive resources.

OC
It is the next best alternative forgone
Here's another example: if a gardener decides to grow carrots, his or her opportunity cost is the alternative crop that might have been grown instead (potatoes, tomatoes, pumpkins, etc.)

Economic Growth in PPF
It refers to the Benefit gained by the effectiv allocation of resources. the causes are;
Improvement in efficiency and productivity by new technology or advancement in techniques
More factor resources are exploited

Gains from Trade
The gains from trade are shown to be realized when the country engages in specialization and trade. Complete specialization is assumed such that the country stops producing the good in which it has a comparative disadvantage.

Absolute Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service

Comparative Advantage
A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than that of a competitor

Barter
To trade goods or services without the exchange of money.
An example of a barter arrangement would be if someone built a fence for a cattle farmer in exchange for food. Rather than the farmer paying the builder, say, $1,000 for the fence, he would give the builder a similar value in beef.

Circular Flow Diagrams
An exchange is a voluntary agreement between two people in which each gives something to the other and gets in return something that he considers of greater value.
The circular flow diagram divides the economy into two sectors: one concerned with producing goods and services, and the other with consuming them. Resources are converted into goods and services by business, and in this transformed state travel back to consumers. Money flows in the opposite direction. These flows involve two markets in which exchange takes place: the resource or factor market in which business buys resources, and the goods and services market in which business sells goods

The Household
The household is the basic unit of analysis in many microeconomic and government models. The term refers to all individuals who live in the same dwelling. these are studied so as being the consumers

The firm
General term for a business, corporation, partnership, or proprietorship. Legally, a firm is not considered a corporation since it may not be incorporated and since the firm's principals are not recognized as separate from the identity of the firm itself. This might be true of a law or accounting firm, for instance.
An economic partnership, limited liability partnership, company or corporation.

Markets for goods and services
Market is a place where buyers and sellers come in contact for a specified objective.
Economic system bringing together the forces of supply and demand for a particular good or service. A market consists of customers, suppliers, and channels of distribution, and mechanisms for establishing prices and effecting transactions. For example, the softdrink market comprises the manufacturers, bottlers, distributors, retailers, restaurants, and consumers.

Factors of Production
Also known as the agents of production, which means that factors responsible to carry out the production process.
The four factors are:
Land:
This category sometimes extends over all natural resources. It is intended to represent the contribution to production of nonhuman resources as found in their original, unimproved form.
Labour:
human capital, to carry out the production process manpower is needed i.e labour in economic terms
Capital:
Frequently capital is treated as finance, associated with the payment of interest.in other words finance used to acquire produced equipment
Entrepreneurship: the risk taker and the decision making authority is the entrepreneur, to manage the other factors of production and to arry out the production process smoothly is the responsibility of an entrepreneur.
The distribution to factors is as follow;
Rent - Land
Wages - Labour
Interest - Capital
Profit - Entrepreneur

Factor Markets:
In Factor Market money income are exchanged for the factors of Production, household are the owners and the suppliers of all resources.

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I hope this effort of mine will benefit you. :)

Answer 2

Economics is an Art. Its the study of how humans interact with money and trade. Yes there is a science in the equations of numbers from those transactions. But understanding how the transactions occur and what policies impact trade is more Art, than Science. Case and Point, the Fed Funds Rate. The Federal Reserve raises and lowers the rate to curb inflation or spur the economy. They cannot predict how much is enough, they have to apply their 6th-sense in determining how much is enough. That is why Economics is an Art, not a science. Because you cannot say, Factor A,B,C means the Funds Rate should be D. Because such a science would always be incorrect as human behavior doesn't always work withing logically parameters.

Answer 3

Learn to use Google so you can do your own work. We don't do lists.