Answer to Question #198054 in Macroeconomics for Hirok Saikia

Question

why should we study economics?

Answer 1

Solution:

Economics is a social science that is concerned with the production, distribution, and consumption of goods and services.

The study of economics is essential in that it can help you to understand how the world functions, other people's behaviors, businesses, markets, and government and therefore, respond better to the threats and opportunities that emerge when things change. You can gain a lot of knowledge and skills, including problem-solving and analytical skills that can permit you to succeed in a variety of paths. Economics can also enable you to make well-informed decisions regarding your daily life and current affairs.