Whether the assumptions of economic are true or not, it is necessary to bear them in mind so that we arc all the time aware or the limitations of the conclusion at which we may . This is specially necessary when couscous policies have to be form lat d for the of certain.
The cc economic and assume the capital order and stable political system also assumed. The market sellers of a commodity in touch That is how prices arc prevail in the market fl commodity.
Finally, there is a category of assume relates to facts of geography and biology. We n base our conclusion on what is physical y or climatically possible. For example, the economist has to accept discussing agricultural problems that harvest time is determined by nature. In the field of industry, it has assumed that the workers have suitable rest pauses. We also assume that technical factors put a limit output. This leads us to the basic a-gumption of economic analysis, viz.., that goods arc s . Economics simply would not exist III the absence 01 scarcity. The basic task of is 10 bullishness the available goods and community in suruc rea. on able manner.