Studying economics can be really boring, because of the amount of technical terms that can be difficult for everyone to understand, but it is important to learn economics as we deal with it in our daily life.
All of our activities are related to economics, as economics is defined as the science that studies the economic process, the distribution of wealth and resources for satisfying human needs and well-being.
Through economics we can understand several variables that impact our lives, such as:
- manage personal finances,
- understand the world's economic scenario,
- understand the news,
- make investments.
Therefore, it is necessary for each individual to have a base of economic knowledge to better understand how and why things happen in the world and how they directly impact our lives.
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brainly.com/question/17408105
A tariff is a tax on exported goods, if a tariff is too high then it will increase the cost of the item so the people who are buying have to pay more.
<span>During times of economic trouble, which are immigrants often accused of?
Taking jobs away from native-born residents. During economic trouble, immigrant are often accused on taking jobs away from native-born residents because they are typically cheaper to hirer for the same job. Immigrants often work harder as well by nature because they need to prove themselves (as they think) to keep their jobs and create a profitable life in America. This makes it hard for native-born residents to keep their jobs since the immigrants will do the same amount of work for less wage. </span>
