Economics is the Science(and Art) of Decision Making.
Scarce resources need to be allocated to best meet society`s needs.
Economists study how these choices are made, what are the effects of these choices and whether public policies may be needed to improve outcomes.
Scarce resources need to be allocated to best meet society`s needs.
Economists study how these choices are made, what are the effects of these choices and whether public policies may be needed to improve outcomes.
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