Explore BrainMass

Explore BrainMass

    The Main Outcome of Economics

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Is the main outcome of economics (high standard of living) the only relevant question within the realm of economic analysis? Do you agree? Is quality of life also important?

    © BrainMass Inc. brainmass.com October 10, 2019, 5:00 am ad1c9bdddf

    Solution Preview

    Remember that I cannot do the assignment for you - I may only push you in the right direction.

    This is a question asked by the famous writer G.K. Chesterton.
    Think about the question this way: there are two ways to understand social phenomena: The first and quantitative and the other is qualitative. The two approaches should serve as the answer to this question.

    The quantitative approach deals with measurable things like standards of living, purchasing power, inflation, rates, etc.

    The qualitative approach deals with things that are not so easy to ...

    Solution Summary

    The main outcomes of economic are analyzed. Why quality of life is important is determined.