I believe the answer you are looking for is concentration because reading a dull book would make you want to do other things rather than sitting there having to read something boring.
Answer:
consumption utility
Explanation:
Consumption utility is a measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. Consumption means using up of utilities. For example – when we take a glass of water to quench our thirst, we are said to consume water. Whenever we make use of any commodity or service for the satisfaction of our wants, the act is called consumption. Therefore, by consumption we mean the satisfaction of our wants by the use of commodities and services. Economic analysis of household behavior is based on the assumption that people seek the highest level of utility or satisfaction. Individuals are the only judge of their own utility. In general, greater consumption of a good brings higher total utility. However, the additional utility received from each unit of greater consumption tends to decline in a pattern of diminishing marginal utility. The utility-maximizing choice on a consumption budget constraint can be found in several ways .
The branch of macroeconomics that specifically focuses on developing economic issues is Development Economics.
Economics can be defined as the study of how individuals, businesses and governments make choices in allocating resources to meet their needs. These groups determine how resources are and how they are organized and coordinated to achieve maximum results. They are mostly concerned with the production, distribution and consumption of goods and services.
The economy is divided into two important parts, namely: Macroeconomics & Microeconomics
- Microeconomics can be defined as the study of decisions made by people and businesses regarding the allocation of resources and the prices of goods and services.
- Macroeconomics can be defined as a branch of economics that describes a substantial picture.
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Answer:
The solar system can be a metaphor for micro and macroeconomics in the real world.
Explanation:
There are several physical systems in the real world that can act as a metaphor for micro and macroeconomics. The solar system, for instance, can perfectly serve as a metaphor for micro and macroeconomics. The study of a single planet in the solar system can be microeconomics or the study of the solar system in the galaxy is macroeconomics. While the study of the galaxy as a whole will be macroeconomics.
