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 meets the needs and wants of The populace, either through production or commerce. Economists see the world As a) profitable b) unprofitable c) and they see opportunity costs. By Viewing the world in such a manner they are able to help in the decision making Involved with money and industry. They can help to save money, resources, Labor, and time. Microeconomics is the study of an overall economy. In studying Microeconomics you study a wider range of services, productions, exchanges. While not 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 division at Chico State University. Both of my parents work there so I chose this area of Business. The factors of production pertaining to this field of work would Include people/labor, cleaning liquids ( such as disinfectants and Windex ) , And dirty rooms (joke) . For the land I would have to put down electricity, water, large amount Of goods manufactured using plastics which in turn uses oil. As for the capital Of the business I will say that the cleaning machines, and large supplies of Cleaning materials would fill this category. The entrepreneurship of the custodial business is the tricky part. I Guess that you could say that the custodians risk there social lives ( because They work graveyard shifts ) in exchange for making a decent salary.
As in the Case of my parents, it paid off. The way that I see it, our largest problem has to do with the natural Resources. People will always want and need things, but if we do not limit And reserve the resources that we have, we are not always going to have our Resources. Demands cannot be met when there is nothing to meet them with. You Can't artificially make everything. You need to start somewhere.
The study of economics
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