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Answers
Economic Model:
An economic model is an organised set of relationships that describes the functioning of an economic identity under a set of assumptions from which a conclusion or a set of conclusions is logically derived. The economic identity may be a household, a single industry, a region, an economy or the world as a whole.
Workbook in Introductory Economics, Third Edition, is designed to help readers learn and use economics, to aid in testing their level of understanding, and to improve their skills in answering multiple-choice and data-response questions. This workbook, unlike many others, is not written to ""accompany"" a particular text, but to be suitable for use with the standard ones on the market. The book begins with discussion of the subject of economics. This is followed by separate chapters on concepts such as supply and demand; production and distribution; national income; money, banking, and prices; international trade; and economic policy. Each chapter is divided into four main sections—textual summaries of the ground covered, questions and problems in economic analysis, questions and exercises on the U.K. economy, and essays. The book
also includes a Reading Guide, which lists the major British standard general textbooks at an introductory level as well as one or two of the best-known American and a small number in special fields.
News’ has four letters. These four letters stand for four directions- North, East, West, South. Reports from Four directions are given the name ‘News’. The paper on which reports are printed is called ‘newspaper’. Newspapers in the modern society have great social and educative values. They are common media of expressing views. Its principal aim is to supply news. Information with different views through comments, articles and editorials.
The newspaper provides us with up-to- date information about important political events, and topics of general interest. We are brought into touch with the current problems which affect us so much if we neglect hem. Again, the morning paper brings to our knowledge all the notable events which occurred in distant lands only the day before. The advertisement column of newspaper tells us where we can find work for ourselves or improve our prospects. It provides us with the means of either disposing of our own articles or purchasing the things we stand in need of. Reviews of books given in some newspaper help us to choose the best books. Those of us who are interested in art, music, farming and sports can also find enough material for amusement.
Explanation:
Reading newspaper is a good habit that can provide a great sense of educational value. It carries information about politics, economy, entertainment, sports, business, industry, trade and commerce. With this habit, it will not only enhance your knowledge about general information but it will likewise improve your language skills and vocabulary. Many people have habits of reading daily newspapers that their days seem incomplete without taking hold of early morning newspapers. Here are some of the benefits that you can get by reading daily newspapers:
Newspapers carry the news of the world.
Newspapers provide information and general knowledge.
Newspapers provide news about a country’s economic situation, sports, games, entertainment, trade and commerce.
Reading newspaper makes a good habit and it is already part of the modern life. This habit will widen your outlook and will enrich your knowledge.
Reading newspaper makes you well informed. It enables you to take part in every discussion pertaining to the world’s current events.
Reading newspapers will improve your knowledge in general and it will be easy for you to relate to other people who often talks about current events and politics.
Through newspapers, you will have a clear idea and understanding of what is happening in your country and the whole world.