Choice in Economics

An economy has to decide how to use its scarce resources to attain the maximum possible satisfaction of the member of the society. This is what, we meet our choice. The optimization objective of the economic actors (producer, consumer and government) necessicities making knowledgeable choice in the use of available resources. Choice is in economic activities at both consumption and production level.

In economics, we suppose that a decision maker is rational/knowledgeable economic rationality of decision maker implies the following:


Scarcity is the most common problem of the society now a days due to poor government, graft and corruption. In able to supress this kind of problem we should do a move and help hand in hand .Also, we should always be open-minded in any situations.


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