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Economics ACTUALITY study does for What?
For What do you of think of the when you hear the word economics ACTUALITY? Money, certainly, and perhaps more complicated things like business, inflation and unemployment. The science of economics studies all of these , but many more things as well. Perhaps you think that economics is all about the decisions that governments and business managers take. Fact with In, Economists study the Decisions' we all to take every day.
Very Simply, economics ACTUALITY studies the way people deal with a Fact of life:: Limited resources are, But Our a demand for Them certainly is not. Resources may be material things such as food , housing and heating. There are some resources, though, that we can not touch. Time, space and convenience, for example , are also resources. Think of a day. There are only 24 hours in one, and we have to choose the best way to spend them. Our everyday lives are full of decisions like these. Every decision we make is a trade- off. If you spend more time working, you make more money. However, you will have less time to relax. Economists study the trade-offs people make . They study the reasons for their decisions. They look at the effects those decisions have on our lives and our society.
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