Question

why do we need to study economics​

Answer 1

Answer:

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Our discipline has two important features. ... The study of economics can also provide valuable knowledge for making decisions in everyday life.

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Answer 2

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Economics is the study of how societies,government,businesses and individuals allocate their scarce resources.It deals with the production,distribution and consumption of goods and services and focuses on the working of the economy at individual and national level. Study of economics helps a person in understanding human behaviour. it teaches us to make choices from the scarce resources with various alternative uses. Economics helps in understanding the market behaviour and helps to take better decisions regarding optimum utilisation of the available resources which leads to economic security and well being of the people.

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