Adam smith’s principles of economics were modified in 1803 by Jean-Baptiste Say, a French businessman, who wrote a treatise on political economy.
<h3 /><h3>What is economics?</h3>
The investigation of shortage and how it influences resource utilization, service and product productivity, income changes, and wellbeing through time is called Economics.
There are mainly three types of economic system which includes capitalism, socialism, and mixed economic system depending on various countries.
Jean-Baptiste Say, a French entrepreneur who published a book on politics and economics, modified Adam Smith's economic principles, which include the laws of self-interest, competitiveness, and both supply and demand, in 1803.
Learn more about Jean-Baptiste Say, here:
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The press is referred to as the fourth estate.
Answer: Decision Making by consumers.
Explanation:
When a decision is made by a consumers, this decisions sets in place a chain of reactions that change their lives, the lives of those around them ( this includes their immediate family and community at large). and the lives of people they haven’t even met before. What this single decision does is that it sets in motion a chain of reactions.
