Respuesta :
The federal government aims to achieve three policy objectives to maintain a robust economy: stable prices, full employment, and economic growth.
What do you understand by the term economics?
The social science of economics focuses on the creation, exchange, & consumption of products and services. Economics is the study of how economies function and the interactions and activities of economic agents. Economics seems to be the study that scarcity and how it affects how resources are used, how commodities and services are produced, how production and welfare increase over time, and a wide range of other complicated concerns that are extremely important to society. Scarcity, demand and supply costs and benefits and incentives are four fundamental economic ideas that can be used to explain a variety of human decisions.
Who founded economics and what it is importance to study?
Scotland's Adam Smith was a philosopher of the 18th century. He is revered as the founding figure of modern economics.
Economics majors have a better understanding of the world around them. People can better respond to challenges and opportunities presented by changing circumstances by being able to understand other people, organizations, markets, and governments. An economic theory is a collection of ideas and principles that explains how different economies function. An economist may apply theories in various ways depending on their specific role.
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