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Why Do We Study Economics?

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Kayla Profile
Kayla answered
We study economics to answer the question..."What is Economics?". It helps us understand its study of how individuals and governments allocate scarce resources in an attempt to satisfy unlimited wants. Economics is also the study of people producing and exchanging to get the goods and services they want. Some assumptions in the study of economics are that peoples' wants are unlimited, the resources to satisfy these wants are limited or scarce, and people (and governments) are willing to exchange (trade) in an effort to satisfy their wants.
We should study economics because it is more important today than it was 20, 30, or 50 years ago.
Anonymous Profile
Anonymous answered
We study economics because it tells sellers how to sale and consumers how to consume
Akshaya Kumar Jena Profile
We study economics to squeeze out the best in a given situation.
Anonymous Profile
Anonymous answered
We study economic because resource are scare and our needs are infinite and thus the study will equip us to make the right choices.

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Anonymous Profile
Anonymous answered
We are studying economics to know the limited resources that people would meet. Their demands and needs in our daily life.
Anonymous Profile
Anonymous answered
Economics helps us to make good decion in our life. To know how to make the right in choices while there is scarcity.

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