Countries and individual people face the same economic questions: 1. What goods and services to produce? 2. How to produce them? 3. Who will consume them? 4. How much to produce for the present consumption and how much for the future? Production is manufactured as a result of consumption of the factors that are sometimes called the factors of production. These factors are land, labor, and capital. The reason for the problems is that our needs and wants are infinite while resources are finite. Distribution of resources is connected with concrete use of land, labor, and capital. Students also have to make a choice between expenses and savings. Sensible young people learn how to develop a useful personal budget. First, they keep record of their actual monthly income and expenses. Miscellaneous allowances, temporary income from various commissions, a percentage from savings and so on. It is very important that you take into account how much you spend on hygiene, transportation, and small beer (I think it's fairly informal and should be subsituted. The problem is I can't think of any word that could subsitute it). You should remember about the difference between fixed, flexible and optional expenses in order to have an opportunity to adjust your budget in case you find a considerable overspend of money.
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Hi there, I'm no expert, but I'd like to take a stab at it. Countries and individual people face the same economic questions: 1. What goods and services to produce?
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Countries and individual people face the same economic questions: 1. What goods and services to produce? 2. How to produce them? 3. Who will consume them? 4. How much to produce for the present consumption and how much for the future?
Production is manufactured as a result of consumptio
1. Well, Countries and individual people. It seems strange to me too. I just don't know how I can reword it. There's the same confusion in my first language. The original sentence (in Russian) also looks akward.
2. I agree that that's wordy but what can I do? I need to make an accurate translation. If the task were to render this text into English, it wo
That's why I haven't visited this forum for so long. People can't just say: this is incorrect, you should say it as follows... that's fine, good job. You're forever asking me to reword what I write. That sucks. I can do this myself. There's no need to visit an English forum to get such replies! Well, I mean that I want to know my mistakes. The text I wrote above is a translation. Do you know how t