USE THE CASE STUDY TO ANSWER THE FOLLOWING QUESTION IN DETAILS

Currently, the anticipated benefits of Social Security and Medicare to individuals are greater than their contributions. Adding to the complexity of this problem are: the graying of America (the growing aging population of America and the industrial world), and the fact that American workers simply face higher taxes and lower wages. This does not take into account the decline in consumption (other than healthcare) that will result from the ageing American population. The end result is a further decline in the standard of living for the average American.

Number Three: Concentration of Wealth

The Durants also noted: "Since practical ability differs from person to person, the majority of such abilities, in nearly all societies, is gathered in a minority of men. The concentration of wealth is a natural result of the concentration of ability and regularly occurs in history.Currently, the anticipated benefits of Social Security and Medicare to individuals are greater than their contributions. Adding to the complexity of this problem are: the graying of America (the growing aging population of America and the industrial world), and the fact that American workers simply face higher taxes and lower wages. This does not take into account the decline in consumption (other than healthcare) that will result from the ageing American population. The end result is a further decline in the standard of living for the average American.

Number Three: Concentration of Wealth

The Durants also noted: "Since practical ability differs from person to person, the majority of such abilities, in nearly all societies, is gathered in a minority of men. The concentration of wealth is a natural result of the concentration of ability and regularly occurs in history.

Question five.

1. . Which one of the following is a normative statement?

2. Continues consumption of homogeneous product is a assumption for:

3. Goods and Services bought and sold in:

4. In Product market money flows from:

5. In factor market suppliers are:

6. In economic activities which are the outflows:

7. Which type of economy does Indian participate?

8. Who is the founder and the father od economics?

9. Implicit Cost added in:

10. Business Economics is also known as.............