Explain the following information in your 1000 word report to members of the strategic planning committee for your company:
â€¢ How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources
â€¢ Using the circular flow model, explain the flow of money and goods in an economy.
â€¢ How the economy coordinates society’s independent economic actors
â€¢ A country’s gross domestic product (GDP) and how it is defined and calculated
â€¢ How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living
Format consistent with APA guidelines.
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