Economics Analysis

This essay has a total of 544 words and 3 pages.

Economics

Economics


The study of economics is helpful in several ways . Some of these I
will comment on . First of all , technology levels affect a societies economy ,
so by learning what products are produced and how they are produced , you can
see how technologically advanced a society is . By examining where the produced
goods are sent/used you can get a better idea of what type of government the
society is run by . By studying an economy and seeing how the economy uses
resources , you can learn what resources the society controls and which ones the
society needs . Tied in with this factor of resources you can get an idea of
which countries have leverage over other countries .
An economist how a society or government meets the needs and wants of
the populace , either through production or commerce . Economists see the world
as a) profitable b) unprofitable c) and they see opportunity costs . By
viewing the world in such a manner they are able to help in the decision making
involved with money and industry . They can help to save money , resources ,
labor, and time .
Microeconomics is the study of an overall economy . In studying
microeconomics you study a wider range of services , productions , exchanges .
While not as discriminate as macroeconomics , you can get a broader picture and
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