write a discussion on -Economics is a science of making decisions in the presence of scarce...

write a discussion on -Economics is a science of making decisions in the presence of scarce resources.” With examples from personal experience, briefly explain how you apply economics in your daily life or would expect to apply economics in your life.

Or.

“No man can be a good citizen unless he has a wage more than sufficient to cover the bare cost of living” (Teddy Roosevelt, August 31, 1910). Recently both the Federal Government and the States are pushing hard to increase Minimum Wage to $10.00 per hour from $7.25. Do you think setting a minimum wage is a good thing to do?

If your last name begins with A-L, argue for a minimum wage. If your last name begins with M-Z, argue against a minimum wage.

Defend your views by citing information from the Web and/or your own experiences. Post your response on the Discussion Board and then read and reply to the posts of at least two other students, citing those views with which you agree or disagree as well as your reasons for agreeing or disagreeing.

Expert Solution

The basic principle of Economics states that there are limited/ scarce resources and human wants are unlimited . There is always a tussle in deciding between wants and scarce re

Rahul Sunny answered 2 years ago

Economics (including finance) is a social science that studies how to allocate scarce resources. Neoclassical economics...

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Management sometimes is described as the art and science of making decisions with too little information....

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