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Every day in economics people make important choices among the many things they want andor need based on which of these?
Every day in economics, people make important choices among the many things they want and need based on the principles of scarcity and opportunity cost. Scarcity refers to the limited resources available to satisfy unlimited wants, forcing individuals to prioritize their preferences. Opportunity cost is the value of the next best alternative that is forgone when making a choice, guiding individuals to make decisions that maximize their utility or satisfaction. Ultimately, these concepts drive consumer behavior and resource allocation in the economy.
What else can I help you with?
Every day in economics people make important choices among the many things they want or need based on which of these?
all of thesefrom f.b.
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
How important is the study of economics?
Economics is how we as humans efficiently allocate scarce resources. These resources can be something as basic as food or something as immaterial as information. And because everyone needs to eat and have shelter, and economics is the study of how we allocate those things, economics is a very important subject.
How does economics help us understand and solve the problems of your society?
Why do we have money? What determines the cost of the things we buy? Economics is the study of our market system it's the study of how people make choices about what they buy, what they produce, and how our market system works.there is also micro and macro economics,small and large,personal and on the larger side the corporate level.understanding both will help anyone.
Introduction to micro economics?
Economics is a social science which study how human being make choice to use scarce or limited resources to satisfies their unlimited choices. The word economics has been derived from two Greek words '' oikos ' means household and 'Nemien' means management.Thus the economics means management of household wants of each people are unlimited but most of the means to satisfies them like food and cloth etc are limited or scarce.Thus faced with scarcity people while managing the household must make choice people cannot have every things that they wants.So they have to choose among the available alternatives because scarcity forces people to choose. The economics is sometimes called science of choice science that explain the choice that people make and predicts how changes in circumstances affect their choices.
Every day in economics people make important choices among the many things they want or need based on which of these?
all of thesefrom f.b.
What are the objectives of economics for business?
Economics explain the movement of money in the business world. It explains why people buy and sell and other important things like supply and demand.
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
How important is the study of economics?
Economics is how we as humans efficiently allocate scarce resources. These resources can be something as basic as food or something as immaterial as information. And because everyone needs to eat and have shelter, and economics is the study of how we allocate those things, economics is a very important subject.
How does economics help us understand and solve the problems of your society?
Why do we have money? What determines the cost of the things we buy? Economics is the study of our market system it's the study of how people make choices about what they buy, what they produce, and how our market system works.there is also micro and macro economics,small and large,personal and on the larger side the corporate level.understanding both will help anyone.
What is the study of how a country makes and uses the things its people need?
economics
Introduction to micro economics?
Economics is a social science which study how human being make choice to use scarce or limited resources to satisfies their unlimited choices. The word economics has been derived from two Greek words '' oikos ' means household and 'Nemien' means management.Thus the economics means management of household wants of each people are unlimited but most of the means to satisfies them like food and cloth etc are limited or scarce.Thus faced with scarcity people while managing the household must make choice people cannot have every things that they wants.So they have to choose among the available alternatives because scarcity forces people to choose. The economics is sometimes called science of choice science that explain the choice that people make and predicts how changes in circumstances affect their choices.
Why is it important for older people to make their own choices about what to do in their leisure time?
It's important for *all* people, not just older people, to make their own choices about what to do in their leisure time because different people like doing different things. However, with older people, the more engaged they are in various activities, the likelier they are to remain ment.ally healthy, and physically healthy
Why did you choose a career in economics?
economics deals with modern things going on in our day to day life.it make aware people about the fact in our country.with the help of it people can go with the right things in life and opposing the wrong one.
How were people affected by the depression?
people had to sell and give up things to earn money it lead into economics
What makes Sir Francis Drake so important to California?
i believe he is important because California believe in his choices and follow his leader ship and now as he was right about things in the past people act as if he is a very important person.
Why is it important to read the labels when making cereals choices?
It is important because sometimes there are things in the cereal that you may not like!
