JP WilliamsEconomics being a social science I think we study economics to be able to solve basic life problems like
- What to Produce
- How to Produce
- For whom to produce
- Cost effective way of doing or producing things
- psychological problems - why people value one concept over another
To make simple life decisions like
- Scale of preference
- Opportunity cost etc
To understand how government policies affect our life, business and income.
To understand the real concept of doing business.
chinedu paulAlso we study economics in other to follow effectively in the economic activities of our government. For instance, a person who is not an economic student wount easily and effectively understand what the government meant by fuel subsidy and reasons for it removal in nigeria. whereas, an economic student would understand the seasons and also, provide possible solutions for the government. 0020 January 2012