how does economics help : - With lifestyle development - With society - With family
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Answer:
The benefits of economic growth include. Higher average incomes. Economic growth enables consumers to consume more goods and services and enjoy better standards of living. Economic growth during the Twentieth Century was a major factor in reducing absolute levels of poverty and enabling a rise in life expectancy.
The idea that individuals weigh up costs and benefits. Economics is important for many areas of society. It can help improve living standards and make society a better place. Economics is like science in that it can be used to improve living standards and also to make things worse.
It defines “family” from an economics perspective and then details the economic functions of the family: human capital creation, social capital creation, household production of goods and services, economies of scale and public goods provisioning, consumption and savings decisions, and risk-sharing and self-insurance.
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