importance of economics in our daily life
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From an individual perspective, economics frames many choices we have to make about work, leisure, consumption and how much to save. ... Our lives are also influenced by macro-economic trends, such as inflation, interest rates and economic growth.
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Economics is the important you get to know how societies, governments, businesses, households, and individuals allocate their scarce resources. The economics can also provide valuable knowledge for making decisions in everyday life.
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