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To be successful leaders in the global business world of the 21st century, managers must consider economic trends, behavior, and ramifications of economic decisions. Managers must also balance the pressures to react in the short term and plan for the medium term and long term.With this in mind, reflect on the economic theories, concepts, and strategies presented in this course as you respond to the following:• Describe how the economic theories and principles you have studied in this course have deepened your thinking about economic behavior.• Identify the knowledge/insights you think will be most useful in your own decision making from a personal perspective and a business perspective.Summarize your reflections in a 250-word response paper.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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