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A fundamental notion of economic analysis is that all households and firms must make choices because of?

Sagot :

A fundamental notion of economic analysis is that all households and firms must make choices because of scarcity.

What is Economic analysis?

Economic analysis essential involves the evaluation of of costs and benefits relative to a countries financial reports.

It can be used also for projects based on the benefits of the projects and the viability of the project.

It helps o know how resources are distributed  and the overall impacts the project is making. If the analysis is not well done there can be shortage of resources or scarcity of resources, products and goods.

Therefore,

A fundamental notion of economic analysis is that all households and firms must make choices because of scarcity..

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