Determine which of the following passages are arguments. For those that are, identify the conclusion. For those that are not, determine the kind of nonargument.
Economics is of practical value in business. An understanding of the overall operation of the economic system puts the business executive in a better position to formulate policies. The executive who understands the causes and consequences of inflation is better equipped during inflationary periods to make more-intelligent decisions than otherwise.
(Campbell R. McConnell, Economics, 8th ed.)
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