• omole favour economic
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    why do we study economic in our economy
    07 June 2011Comment
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    • JP Williams Economics 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
      - Choice
      - 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.

      and so many more

      Like It0 Unlike It0 07 June 2011
    • omole favour you are right sir
      Like It0 Unlike It0 08 June 2011
    • chinedu paul Also 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.
      Like It0 Unlike It0 20 January 2012