as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain economics with an example.
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economics is the study of how people and societies make decisions about production and consumption of goods and services. for example, a bakery may decide how much bread to produce and price it accordingly, depending on the prevailing market conditions, in order to maximize their profits.
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