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Economics
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30 Oct 2020

Since individuals don’t always behave rationally, what form of economics should we lean towards to get a 360-degree view of the reality?

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Microeconomics
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Analyze the Factors affecting Consumption Choices
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Paramjeet Chawla
Paramjeet ChawlaLv8
30 Oct 2020

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Economic analysis is often viewed as the science of rational decision making in a world of scarce resources. We need to think rationally because we live in a world where resources are limited but where people's wants are unlimited. There is not enough money, time, or things to completely satisfy everybody. What can we do to get the most satisfaction out of our limited resources? What are the issues and the recommendation?

What would be the best definition of economics?

A. Economics is something we study in History to learn about jobs.

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D. Economics is how people choose a job and where they choose to live.

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