ECONOMICS
COST BENEFIT ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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social, political
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geographical, cultural
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Either A or B
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None of the above
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Detailed explanation-1: -In reality, economics is vitally important subject because it is the study of making choices. More specifically, it is the study and practice of making choices in a world of limited resources (scarcity). You cannot go for a day without making economic decisions.
Detailed explanation-2: -A Definition of Democracy Democracy is traditionally defined as a system of political decision making in which the people as a whole have the supreme power. However, this defines democracy as a general and vague ideal rather than as an actual institutional arrangement.
Detailed explanation-3: -The Policy Process. The policy process is normally conceptualized as sequential parts or stages. These are (1) problem emergence, (2) agenda setting, (3) consideration of policy options, (3) decision-making, (5) implementation, and (6) evaluation (Jordan and Adelle, 2012).
Detailed explanation-4: -Households. Businesses. Governments. Foreigners.