Please list and explain the three principles that describe how the economy as a whole works.

Business

1 answer:

STatiana [176]3 years ago

6 0

Answer:

The standard of living from country to country is affected by their level of productivity. The more productive a Country is, the more goods and ser- vices they have available, etc.lnflation occurs when the government prints a surplus of money.There is a trade-off between inflation and unemployment. Increase in price can happen from higher demand, which in turn causes firms to higher more workers to produce more goods/services.

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