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3. Discuss how studying Economics would benefit:
i) producers.
ii) consumers.
iii) policy makers.
4. Which definition of Economics is the most suitable for Bhutan? Give reasons.



Answer :

GinnyAnswer

Final answer:

Studying Economics benefits producers, consumers, and policymakers by helping them make informed decisions. In Bhutan, Economics focuses on sustainable resource use for achieving Gross National Happiness.


Explanation:

Economics Benefits for Producers, Consumers, and Policy Makers:

  1. Producers: Studying Economics helps producers understand market trends, optimize production, and make informed pricing decisions.
  2. Consumers: Economics education empowers consumers to make better purchasing choices, understand prices, and benefit from competitive markets.
  3. Policy Makers: Knowledge of Economics aids policy makers in crafting effective regulations, addressing economic issues, and promoting growth.

Definition of Economics in Bhutan:

In Bhutan, Economics relates to the efficient use of resources to achieve Gross National Happiness, considering environmental sustainability and cultural values.


Learn more about Economics Benefits and Definition here:

https://brainly.com/question/14604486


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