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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are three reasons to study economics?

To determine

The three reasons to study economics.

Explanation

After understanding the concept of economics, the next step is to understand its benefits. The benefits help us better understand why we need to study economics. Solving problems is the primary goal of economics; hence, it can also be considered as a puzzle-solving tool.

Following are the three reasons to study economics:

  1. Information :
  2. Currently, the world is facing enormous problems starting from world poverty to the conflicts in Syria, Afghanistan, and Somalia, to global warming. All these have an economic dimension. To participate in the problem solving process, first and foremost you need to understand the problem. Hence, economics gives us the correct knowledge base to deal with these problems.

  3. Decision making
  4. Apart from understanding the problem, solving the problem and developing the required tool to do it, is another aspect of economics...

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