Question

suggest the economic terms for given statement wants that are basic in nature​

Answer 1

Answer:

While having a basic understanding of economic theory isn't perceived as being as important as balancing a household budget or learning how to drive a car, the forces that underpin the study of economics impact every moment of our lives. At the most basic level, economics attempts to explain how and why we make the purchasing choices we do.

Answer 2

Hello !

At the most basic level, economics attempts to explain how and why we make the purchasing choices we do. Four key economic concepts—scarcity, supply and demand, costs and benefits, and incentives—can help explain many decisions that humans make.

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