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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is an example of a problem in the world today, not mentioned in the chapter, that has an economic dimension?

To determine

A problem of today’s world that has an economic dimension.

Explanation

A person studying economics becomes a well-rounded thinker. He will gain better perspective about business and personal decisions, as well as politics and current events. Keeping this aspect in mind, every major problem in today’s world has an economic dimension, such as world poverty, international conflicts, global warming, etc. To solve these problems, the understanding of economics is crucial.

Obesity is another international problem which has an economic dimension. As per World Health Organization (WHO), it is considered a "global epidemic". As per various studies, it has numerous social and economic consequences, and negatively affects wages and earnings, particularly for females.

Obesity-related medical costs are rising, which include both direct as well as indirect costs...

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