Fundamentally, economics deals with scarcity. Assuming humans have unlimited wants within a world of limited means, economists analyze how resources are allocated for production, distribution, and consumption. The study of microeconomics focuses on the choices of individuals and businesses, and macroeconomics concentrates,
On the behavior of the economy as a whole, on an aggregate level. One of the earliest recorded economists was the 8th-century B.C. Greek farmer and poet Hesiod who wrote that labor, materials, and time needed to be allocated efficiently to overcome scarcity. The publication of Adam Smith's 1776 book,
An Inquiry Into the Nature and Causes of the Wealth of Nations sparked the beginning of the current Western contemporary economic theories.
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The answer is A)
Medicare tax is a kind of federal payroll tax
Answer:
real interest rate decreases, national saving increases, investment increases, consumtion is unchhanged, output is unchanged (fixed because it is determined by the factors of production).
Explanation:
Qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.
<h3>What is forecasting?</h3>
It should be noted that forecasting uses historical data to predict future trends.
In this case, qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.
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