Question

what is the practical importance of economics?​

Answer 1

Explanation:

Economics helps us identify the policy measures that encourage prosperity and avoid inefficiency, making it a crucial driver in the search for sustainable growth.The human race’s curiosity has expressed itself in the creation of various fields of study that examine specific aspects of the world around us. (IE)The human race’s curiosity has expressed itself in the creation of various fields of study that examine specific aspects of the world around us. The ‘natural’ sciences like physics and chemistry study the behaviour of the basic particles and elements of the universe and their interactions with each other.

Answer 2

Explanation:

• People who study economics are better able to comprehend their surroundings.
• It makes it possible for people to comprehend other people, organisations, markets, and governments, enabling them to better react to the challenges and possibilities that arise when circumstances change.
• More generally, an economics degree aids in preparing you for jobs requiring numerical, analytical, and problem-solving abilities, such as those in management, marketing, research, and business planning.
• You may think strategically and make judgments to maximise the result with the aid of economics.
• Economics teaches us about decision-making and choice, and it aids in our comprehension of society and international events.
• It is crucial that we comprehend economics completely because it plays such a significant role in everyday lives.

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