Mataracy
VIP Contributor
Since we can not satisfy all our want because there is limited resources.
So there for the limited resources on ground need to be manage in such away that there would not be any waste and can be utilize very well.
The word economic can be describe or defined as a science that studies human behavior as a relationship between ends and scarce means which have alternative uses.
Our wants or ends are many relative to our resources or means of satisfying them.
So,we must choose in order to maximize or get the best out of our scarce resources of scarcity.
We need to be sound economically because of the problem faced by some of our company or country now a days.
This problem are:
(1) What to produce?: We need to know the type of product to produce ,the product that can yield more profit and the one that people will like to consume.
(2) How to produce? This has to do with the method to use whenever we want to produce it
(3) Where to produce ?.This is talking about the place where there will be better accessibility to the customers.
(4) For whom to produce? This have to do with the set of people that the product we meet their need most in the community or in a particular area.
Your idea is required. What did you understand by the word Economics?
So there for the limited resources on ground need to be manage in such away that there would not be any waste and can be utilize very well.
The word economic can be describe or defined as a science that studies human behavior as a relationship between ends and scarce means which have alternative uses.
Our wants or ends are many relative to our resources or means of satisfying them.
So,we must choose in order to maximize or get the best out of our scarce resources of scarcity.
We need to be sound economically because of the problem faced by some of our company or country now a days.
This problem are:
(1) What to produce?: We need to know the type of product to produce ,the product that can yield more profit and the one that people will like to consume.
(2) How to produce? This has to do with the method to use whenever we want to produce it
(3) Where to produce ?.This is talking about the place where there will be better accessibility to the customers.
(4) For whom to produce? This have to do with the set of people that the product we meet their need most in the community or in a particular area.
Your idea is required. What did you understand by the word Economics?
