Explain with example the importance of the study of economics
Answers
Answered by
9
Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Our discipline has twoimportant features. ... The study of economics can also provide valuable knowledge for making decisions in everyday life.
Answered by
8
In its most simple and concise definition, economics is the study of how society uses its limited resources. Economics is a social science that deals with the production, distribution, and consumption of goods and services. ... Macroeconomics - the branch of economics that studies the overall working of a national economy.Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Our discipline has two important features. ... The study of economics can also provide valuable knowledge for making decisions in everyday life.
Similar questions