Without economics we would still be hunter gatherers and farmers bartering with each other for basic tools of survival. Economics has marked the upward surge of humanity. You asked this question on...
Economic costs is the decrease in goods and services that occurs as result of unemployment but non-economic cost is the increase in goods and services that occur as result of unemployment.
Economics is the study of the most effective and efficient allocation of limited resources: how to make the best use of land, natural resources, income, labor, time-- everything that is not in...