Question

A person studying economics Can make better choices about purchases if that person understands

Answer 1

A person studying economics can make better choices about purchases if that person understands consequences of an economic theory.   Economic decisions always throw up a variety of results which may be unexpected.   An economic theory expected to give maximum output may give least productive results and vice-versa.   This is one of the chief reasons that Adam Smith called economics a natural science.

Answer 2

If you study economics, you will learn how supply and demand affect things such as price, wages, and the availability of goods.

If you know that certain products that you use and need will be lower in price at certain times of the year, you can wait to make your purchase until that time.