What Are The 6 Economic Questions? The four basic economic questions are (1) what goods and services and how much of each to produce, (2) how to produce, (3) for whom to produce, and (4) who owns and controls the factors of production. In a capitalist economy, the first question is answered by consumers as
What Are The Theories Of Adam Smith And John Maynard Keynes? They each had different opinions about the economy, but they did share the same insight of keeping the money circulating. Smith believed that there should not be any government interference in the market, while Keynes believed that the government intervention was necessary in times
What Are The Advantages Of Home Economics? Home economics also teaches students how to be savvy consumers. It helps students learn how to budget and spend their money wisely. This class teaches things that teens, who are growing into adulthood, should utilize in their everyday life, like patience, attentiveness, situational awareness, etc. What is the
What Areas Focus Economics? What Is Economics? Economics is a social science concerned with the production, distribution, and consumption of goods and services. … Economics focuses on the actions of human beings, based on assumptions that humans act with rational behavior, seeking the most optimal level of benefit or utility. Is Focus economics a reliable