Explain why the goal of a society, production or consumption, has important implications for analysis and policy.

The goal of society refers to the expected economic condition of a society in terms of the amount the society wishes to produce and the amount it wishes to consume at a particular period.

A society's goal is important in analysis and policy since it helps develop policies that are in line with the economic goals of a society. Policies are used to direct the economy to behave in a particular way. Thus, understanding the society's goal before implementing makes it easier to develop policies that align with the goals. Without a society goal, it would be hard to develop efficient policies since the policies would not have any specific goal. Thus, society's goal helps develop policies that focus the economy towards the community goal.