what is economics? why it is important to study economics ? give four reasons
Answers
Answer:
Explanation:
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.The ultimate goal of economic science is to improve the living conditions of people in their everyday lives. Increasing the gross domestic product is not just a numbers game.
Three reasons to study Economics:
- Variety of programmes: economics are part of most aspects of everyday life.
- A focus on real life: economics is focused on learning from case studies.
- Excellent graduate prospects: most students easily find a job after graduation as economists are needed in most businesses.
Answer:
the word economic is derived from the Greek work ' oikonomia' . Eco. is the study of how we choose to use limited resources with alternative uses to obtain the maximum satisfaction of unlimited human wants.
Explanation:
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