Studying economics best an individual determine how to achieve
1.regulation
2. goals
3.dependence
3weakness

2. Goals

Explanation:

As we know that there is always a scarcity of resources through which the individual or a firm or a company use it with an efficient and effective way so that it could accomplish its goals and objectives with respect to production and consumption of the available goods and services

Plus, the individual has to know about the economy i.e Gross national income so that the individual is able to achieve the economic goals which are to be beneficial to him

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answer///supply is elastic, and demand is inelastic;