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Ten Principles Of Economy

Ten Principles Of Economy

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[Name of the Writer]

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Ten Principles of Economy

The ten principles of economics create the ability to understand the financial world and it escalates the skills of investors, producers, citizens and consumers for savingbetter. Barter system was the practice of ancient people in which if a person wanted anything, he has to sacrifice the other one. If the maximum resources of a country are spending in its defense then these spending are used for the welfare of the country. The government usually taxes the rich people to spend this money on the welfare of poor people.It shows that people are facing this tradeoff in their daily routine. If I want to continue my graduation, I need to sacrifice my job to get the benefit. A rational person always thinks about the margin and maximum benefits from his investment and analyze the options from which he could get maximum benefit. The behavior of the consumer is not consistent if the price is changed his need and want for a product is also changed. Trade encourages the parties to make a better product which creates value for the consumer. It can also increase the expertise in making of product to gain a competitive advantage. The government should play a part to improve the market outcome. It is the responsibility of the government to impose a heavy tax on companies on the emission of carbon and give tax relief to companies which are producing less carbon. The standard of living in a country depends upon the quality of the products it is producing. The countries which are producing better products earn more and have a better standard of living as compared to countries which are producing substandard products. The main cause of inflation is having too much circulation of money in the market. The government should follow the rules while printing more money. Employment and inflation are insignificant to each other when the inflation has increased, the unemployment has decreased and when the inflation has decraesed, unemployement has increased

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