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Economics

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Tiana VonRueden

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Cards in this guide (6)
In which economic system does the government make most economic decisions

command economy

Why is economics considered social science

Economics is a social science because it is the study of human behavior when it comes to money

and how it is made and spent. Economics play a large part of all humans personal and professional lives.

The gross domestic product is licked to both social science and economics. Unlike natural science, social

science is used to understand society. Economics is a large part of society and how people behave.

Which factor of production directs the work flow of the other three factors

Management

Which person studies the production distribution and consumption of goods and services

An Economist studies the production distribution and consumption of goods and services

What is the most important tool for analyzing the production distribution and consumption of goods and services

Economic analysis is need for analyzing the production, distribution and consumption of goods. This allows a group or business understand what goods are the most needed and sell the best.

In what economic system does the government own most of the factories equipment and agricultural lands

State capitalism. In Communism there is no government and no buying and selling.

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