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Eco101 C-1 PDF

23 Pages·2020·English
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by ['Tewodros Tadesse']| 2020| 23 pages| English

About Eco101 C-1

1. Economics is defined as the study of how societies use scarce resources to produce valuable goods and services and how they are distributed. It examines the relationship between unlimited human wants and the scarce resources available to satisfy those wants. 2. The method of economics involves developing theories through systematic observation, analysis, and reasoning to describe and explain economic phenomena. Theories are constructed using deductive and inductive approaches and tested against real-world data. 3. Economics is studied to understand personal economic opportunities and challenges, assess societal problems like unemployment, and help governments promote growth and improve living standards.

Detailed Information

Author:['Tewodros Tadesse']
Publication Year:2020
Pages:23
Language:English
Format:PDF
Price:FREE
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