Good economic policy requires good economic theory
Explain the statement: “Good economic policy requires good economic theory.”?
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Economic theories are the foundation of economic policy. Economic policy is a course of action intended to resolve a specific problem or further a nation’s economic goals. Therefore, the action taken (the policy) is effective only if the underlying theory is correct.
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What are the major legal forms of business organization?
Contrast how a market system and a command economy try to cope with economic scarcity?
Illustrate Professional and personal applications?
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What are the determinants of supply?
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