I chose to make the claim that Taylor shows the economic way of thinking is valuable because it helps explain society’s demands and how the flow chart can represent consumer choices in everyday life. Taylor implements the economic way of thinking by contributing to topics such as: price regulation, business management, con...
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...s, his economic way of thinking is valuable because it helps explain society’s demands and how the flow chart can depict consumer choices in daily life in a straightforward approach. While Taylor’s writing comes from a textbook teaching standpoint, the information is still presented in a relative fashion, showing how patterns in a society raise questions that determine what is produced, how much is produced, and how the goods will be allocated across the population. He implements the economic way of thinking by contributing to topics such as: price regulation, business management, consumption of goods and services, and income inequality in a society, all of which implement knowledge for individuals in a society. Taylor’s economic way of thinking stands as valuable intelligence for all people(not just in an economic related field) to prosper in today’s modern economy.
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