Question

clarify the importance of economics​

Answer 1

Answer:

Heya mate your answer is----------------------------------------------------

Economics is important for many areas of society. It can help improve living standards and make society a better place. Economics is like science in that it can be used to improve living standards and also to make things worse. It partly depends on the priorities of society and what we consider most important...

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Answer 2

Economics is concerned with the optimal distribution of resources in society. The subject involves

•Understanding what happens in markets and the macroeconomy.

•Examining statistics about the state of the economy and explaining their significance

•Understanding different policy options and evaluating their likely outcomes.