Answer to Question #58324 in Economics of Enterprise for mohamed hussein

Question

why economic is signifant?

Answer 1

A finding in economics may be said to be of economic significance if it shows a theory to be useful or not useful, or if has implications for scientific interpretation or policy practice (McCloskey and Ziliak, 1996).
That's why the economics at all or some particular economic theory is significant, when there is some practical application of this theory, which shows, that it is useful for a society.