Question

explain briefly and concisely the economic process where it shows why people have to practice economics by analyzing the flow of the diagram/illustration below?​

Answer 1

Answer:

The study of economics helps people understand the world around them. It enables people to understand people, businesses, markets and governments, and therefore better respond to the threats and opportunities that emerge when things change.

Answer 2

The reason why people have to practice economics is as follows:

• First and foremost, the thing is study of economics help people to learn and know about business, governments, markets.
• It helps you to understand the world around you.
• It can be helpful to better respond to the opportunities which emerge when things change.