Nearly 32% of Metro Miami's growth in 2011 was foreign-born, and more than half went on to become US citizens. While South Florida's population has been fairly stagnant for a decade, it's starting an unexpected shift upward, with Miami-Dade's population growing 2.1% in one year.
economy. 1  thrifty management; frugality in the expenditure or consumption of money, materials, etc. 2  an act or means of thrifty saving; a saving: He achieved a small economy by walking to work instead of taking a bus. 3  the management of the resources of a community, country, etc., especially with a view to its productivity.
That being so, an economy has to decide how to use its scarce resources to give the maximum possible satisfaction to the members of the society. In doing so, an economy has to solve some basic problems called Central Problems of an economy, which are: (i) WHAT to Produce. (ii) HOW to Produce. (iii) FOR WHOM to Produce. Whatever the type of the economy or economic system, these problems have to be solved somehow. Whether it is a capitalist economy of the U.S.A. or a socialist economy of the U.S.S.R. or a mixed economy of India, every economy has to make decisions in regard to what, how and for whom to produce.