Answer:
During a cost benefit analysis, a consumer take in view the worth of his money and what he values more.
Now in order to compare both options and decide, he should go through following steps,
- Compile lists: Make a list of all the cons and pros related to both the options covering all bases.
- Associate monetary value: Associate monetary values to both the options. For example what would be the benefit or lag if either of the options happen or don't happen.
- Set up the equation and compare: Compare the results of the above two steps and see which option has an overall high benefit rate.
This will allow the consumer to analyse both his options and chose the best one.
Africa is known for their precious diamond mining so diamond is one. Oil is also another big thing
They put in 4 new acts, or the intolerable acts.
One made the Townsend act stronger
One cut off trade from Boston
One was that people who broke the laws, were to be sent to England for a trial
One was they cut off all colonial meetings
Answer: Economic Theory
Explanation: Economic Theories are principles and ideas aimed at analyzing economic behavior and problems. Economic Theories are product of thorough theoretical research which identifies economic problems, reasons for those problems and ultimately proffers the best possible solution to arrest those problems. Hence economic Theories models economic realities and make real world predictions using this models.
