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fiasKO [112]
3 years ago
13

Discuss the role of the consumer and the production of goods and services in relation to core concepts of economics.

Social Studies
2 answers:
harkovskaia [24]3 years ago
7 0

Answer:

Four key economic concepts—scarcity, supply and demand, costs and benefits, and incentives—can help explain many decisions that humans make.

Scarcity explains the basic economic problem that the world has limited—or scarce—resources to meet seemingly unlimited wants, and this reality forces people to make decisions about how to allocate resources in the most efficient way.

As a result of scarce resources, humans are constantly making choices that are determined by their costs and benefits and the incentives offered by different courses of action.

Explanation:

AleksandrR [38]3 years ago
4 0
While having a basic understanding of economic theory isn't perceived as being as important as balancing a household budget or learning how to drive a car, the forces that underpin the study of economics impact every moment of our lives. At the most basic level, economics attempts to explain how and why we make the purchasing choices we do.

Four key economic concepts—scarcity, supply and demand, costs and benefits, and incentives—can help explain many decisions that humans make.
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Additional sum of money will be added to Arthur's standard deduction.

Explanation:

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A: They campaigned against the colony's prohibition on hard alcohol.

E: They argued in favor of allowing slavery in Georgia in opposition to the Trustees' preference for small landowners prospering from their own labor.

Explanation:

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Older married couples usually have fairly high marital satisfaction. usually had higher marital satisfaction when their children
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Answer:

Older married couples usually have fairly marital satisfaction.

Explanation:

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As couples grow older, there is decrease in marital satisfaction and this is one of the reason why there is divorced among middle aged couples.

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