Assignment 1

Instructions

Your father owns a small family business but he is of the opinion that he does not have to beconcerned about economics as it is a government-related matter. As a student exposed to the scope of economics, in no more than 600 words, write an essay to your father, explaining to him the importance of knowing the basics of economics.Your essay must include: Introduction Defining key terms (economics, microeconomics, macroeconomics). The importance of economics as it relates to scarcity and choices Why is it important to appreciate economics? Clarification of your fathers misconception. ConclusionAdditional Guidelines Your essay must include in-text citations Writing style must be APA Times New Roman font, size 12, double spaced A reference page must be included Please refer to the presentation rubric for detailed mark scheme.

Answer

Assignment 1Economics is a branch of science concerned with the manufacture, dissemination, and consumption of services and goods (Mulhearn & Vane, 2020). How individuals and governments make choices on certain resources, is connected to economics. However, economic is divided into two branches; macroeconomics and microeconomics. Microeconomics leans more on the individuals and how they make business decisions, while macroeconomics leans towards the government's decision making (bottom-up approach). Economics affects our lives on the choices we make about work and saving and how it influences inflation and economic growth. Economics is essential to the government as to individuals since it helps them understand how some factors work together to control one's resources. The Importance o...

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Assignment 1

Instructions

Answer

Why we are Ranked the best

Hear from our customers

Shawn Richards Universiteit van Amst

Anthony Pezer Florida State University

Anush Thari Goenka University

Nek lean Louisiana State

Shawn Richards
Universiteit van Amst

Anthony Pezer
Florida State University

Anush Thari
Goenka University

Nek lean
Louisiana State