The purpose of economics is to allocate scarce resources in, Ask an Expert

Economics

The purpose of economics is to allocate scarce resources in manner that maximizes society's happiness and to their highest valued use. Do you agree?

1) How do we measure society's happiness ?

2) How is the highest valued use determined ?

What are the issues and difficulties you see around trying to achieve these goals ?

Please elaborate on all problems

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M937569

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