What is economics and why is it important? Give examples of how economics can help us make good choices for ourselves and our community.
Answer:
Answer by Student
-
Economics is a social science that examines how people
produce, distribute, and consume goods and services
in a world with
limited resources
.
-
It is important because it helps us understand how the
world works
and how we can make
better decisions
.
-
Some examples of how economics can help us are:
-
Economics can help us
save money
by comparing
prices
and choosing the best
value
for our
budget
.
-
Economics can help us
protect the environment
by reducing
waste
and using
renewable resources
.
- Economics can help us cooperate with others by trading goods and services and sharing common goals .
-
Economics can help us
save money
by comparing
prices
and choosing the best
value
for our
budget
.
