Economics is best defined as the study of: A. How society manages its scarce resources B. How to run a business profitably C. How to predict stock market prices D. How to make money
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- What is the importance of studying economics? Give an example how it can help you.what is the significance of economics. Explain in details.Choose the statement that does not describe Microeconomics. a. The effect of an increase in the Tax on cigarettes on cigarette sales b. The purchasing decisions that an individual consumer makes. c. The effect of increasing the money supply on inflation. d. All of these
- What is important of studying economics? Give two good examples how the knowledge can help you in your daily routines.Carefully define the following terms and explain their importance to the study of economics. a. resources b. rational decision c. scarcity d. opportunity costEconomics is best defined as the study ofa. how society manages its scarce resources.b. how to run a business most profitably.c. how to predict inflation, unemployment, andstock prices.d. how the government can stop the harm fromunchecked self-interest.
- What is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.Economics is defined as the study of: Select one: Oa. central planning O b. government regulation c. how society manages its scarce resources Od.businessDiscuss what markets are?
- Economics is concerned with A. All the given answers B. the effects of changes in opurtunity cost on decisions C. the competition that scarcity makes necessary D. the choices people must make because resources are scarceWhy do business people study economics?Microeconomics is the study of Select one: a. how the economy as a whole works O b. how government make decisions Oc. how government affects the economy d. how individual households and firms make decisions