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The good news, however, is that economics can tell us the likely results
of a sales tax. In addition, as a scientific discipline, economics provides ex-
tremely useful analytical tools and frameworks for understanding human
behavior in the areas of getting and spending money, which (let's face it) oc-
cupies the majority of most people's waking hours.
Economics deals with fundamental, often life-or-death issues. That is
why economics is important. Its challenge lies in its mysteries: We don't
know when the next expansion or recession will come. We don't know if a
federal tax cut will help the economy grow. We don't know which new tech-
nologies should be encouraged and which ones won't pan out (не преуспе-
ют). And, tragically, we don't know how to overcome poverty, hunger,
crime, and other evils rooted in economic reality. But economics is the
branch of the social sciences most concerned with these matters, and it is the
one that's well equipped to help us deal with them.
Economics provides a framework for understanding government poli-
cies, business developments, and consumer behavior here and abroad. It pro-
vides a rich context for making decisions in your business, professional, and
financial life. The economy is to business as the ocean is to fish. It is the en-
vironment in which business operates. The more you know about this envi-
ronment, the better you will function as a manager, analyst, and decision-
maker.
Vocabulary
likely вероятно
to provide обеспечивать
tools инструменты
framework структура
to occupy занимать
majority большинство
issue пункт, проблема
challenge сложная задача
expansion расширение
recession спад
to encourage поощрять
to overcome преодолевать
poverty бедность
equipped оборудованный
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