importance of economy give in brief.
Answers
Answer:
economy is important to know societies, government, business ,household and individual allocate there scared resources it also provide valuable knowledge for making decision in every day life.
please follow me .
Answer:
Economics is important because it helps people understand how a variety of factors work with against each other to control how resources such as labour and capital get used and how inflation supply, demand, interest rates and other factors determine how much you pay for goods and services. Economics looks at how governments, bussiness, societies, households and individual people make decisions about how, when and where to best yes their natural resources. Economics engage in statistical analysis to study these changes and build predictive and useful economic behavioral models. Many factors of the economy need to be considered in many types of decision making because of how they can help predict future outcomes. common economic factors include interest rates, inflation rates, unemployment and supply and demand. There are two types of economic
Macroeconomic
Microeconomics