Explain with examples, the importance of the study of economics.
Answers
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economics is the important you get to know how societies, governments,businesses, households, and individuals allocate their scarce The economics can also provide valuable knowledge for making decisions in everyday life. Economicsis concerned with the optimal distribution of resources in society.
Macroeconomics - the branch of economics that studies the overall working of a national economy
hope it helps you
Answer:
Economics is the field in which good production, distribution of supplies and food and consumption of that goods and services are described. It also depicts scarcity of good and resource so, efficient and careful consumption is required.
Importance of economics is used for monitoring and studying behavior of human in terms of services and products items.It deals with various fields like education, politics, social infrastructure, science,families etc.
Example:-
Helps in studying stock market through analysis
Producing goods as per requirement and distribution among public.
Learn more:-
Define economics and classify economic and non-economic activities
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