Question

Explain the Importance of study of Economics.

Answer 1

The role and importance of studying economics. Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources and how they interact with each other in producing and maintaining livelihoods.

Answer 2

The role and importance of studying economics. Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources and how they interact with each other in producing and maintaining livelihoods.