The Study Of 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 ...

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as discriminate as macroeconomics, you can get a broader picture and grasp the basic concepts of an economy.

Macroeconomics studies the study a single aspect of an economy, lets say the mining of coal. You don't research the delivery, the ‘market' ; all you study is the actual mining process. While this may be more limited in scale, you can learn more about that specific process. You don't see the whole picture but you can find the specifics on that subject.

Personally I don't think that the physiocrats theory would work. I think that if we tried to follow there theory and have the government abstain from interference, many of the smaller businesses would quickly be closed down. I think that a great many monopolies would be created and we would have the ‘ railroad barons' problem that we had in the 20th century. I feel that the government is hindering at many times, and still they seem to be helpful in some areas.

The business that I chose to depict was the custodial ...

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PAPER DETAILS
Added: 3/20/2011 07:50:57 PM
Submitted By: millan
Category: Economics
Type: Premium Paper
Words: 633
Pages: 3

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