Essay Examples on Stevens-Henager College

Economic is a social science about the production Manufacturing

Economic is a social science about the production manufacturing distribution and consumption of products and services It is the study of the choice of allocation resources to be able to gain satisfactorily want and need of the individuals business firms nations and their concerning governments how to organize these groups and coordinate to gain maximum output It is concerning with how to manage the incomes and expenditures as well as economic biology just like the contentment of the material needs of the people Every economic system may encounter three core areas of concern the first area of concern is which product will be produce in which amount The second one is what kind of technology which will be used to produce The last area of concern is who is intended to use these products According to these three core areas of concern it is necessary to know consumption and production Consumption is the final purchase of products services and expenditures by individual Consumption can also be stated as destruction of utility Production is the fusion of the resources like human land me chance and immaterial statements such as planning 

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