What Is Relevance Of Logic To Economics?


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Ellie Hoe answered
Economics is itself a field which encompasses logic and reasoning. It comprises of various statistical techniques which help financial managers to make important day to day organizational decisions. Economics include various strategies such as game theory, bundling, cost strategies, pricing strategies, market structures, supply demand equations, equilibrium etc. All these concepts and theories are given and tested several times by the mathematicians and economists and are challenged by many critics and analysts. The logic is the prime reason why financial managers consult to the theories in economics for finding out solutions for their day to day problems.  

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