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Economics has this connection to mathematics: It is a jumbled heap of beliefs and statistics. Our beliefs tell us which numbers to add up, and which to ignore.
Footnote: For the past 50 years, economic theories--principles, practices, and predictions--have been described in highly refined mathematical terms. Economic concepts that were formerly stated in words are now codified in mathematical formulas. For example, Malthus and Ricardo described "game theory" discursively. Subsequently, economists devised mathematical explanations and formulas to explain and refine those concepts.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoThe relation between mathematics and economics involves economics being dependent on mathematics for factual analysis. Mathematical solutions always portray facts needed in some form of economics.
Wiki User
∙ 15y agoIn economics, mathematics helps analyze data and show patterns that can manifest in economic trends, predictions and relationships between elements of an economy.
Wiki User
∙ 13y agoin economics mathematic helps analyze data and show patterns that can manifest in economics trends predictions and relationships between elements of an economy.
Wiki User
∙ 12y agocooking envolves using maths because some time you have to measure how much ingredients a recipe
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What is the relation between economics and marketing?
what is the relationship between marketing & economic
What is the relationship between Home economics and mathematics?
NO Relationship
Is Economics an isolated science since it has no relation to other sciences?
Economics is strongly linked to finance, and makes use of mathematics and statistics, so I do not see how it can be isolated.
Relationship of economics with stastistics?
There is a strong relation between economics and statistics.Bcoz in both we make graphs:-)
What is the definition of economics by Prof L Robbins?
economics is the study of human behaviors as a relation between ends and scarce resources that have alternative uses.
What is the relation between economics and marketing?
what is the relationship between marketing & economic
What is the relationship between Home economics and mathematics?
NO Relationship
Is Economics an isolated science since it has no relation to other sciences?
Economics is strongly linked to finance, and makes use of mathematics and statistics, so I do not see how it can be isolated.
What is relation between mathematics and environment?
the relation is that both helps in our daily life
Relationship of economics with stastistics?
There is a strong relation between economics and statistics.Bcoz in both we make graphs:-)
What is the relation of economics to sociology xy?
what is the relation of economics to sociology
Relation between economics to physics?
The maths. Otherwise nothing much!
What is the relation of economics to psychology math and history xy?
what is the relation of economics to sociology
What are the sub-branches of economics that relies on fields of statistics and mathematics?
Some of the sub-branches of economics that rely on fields of statistics and mathematics are econometrics, transport economics, managerial economics and international economics.
What is the definition of economics by Prof L Robbins?
economics is the study of human behaviors as a relation between ends and scarce resources that have alternative uses.
What has the author Jean Soper written?
Jean Soper has written: 'Mathematics for Economics and Business' -- subject(s): Business mathematics, Economics, Mathematical, Mathematical Economics
What is the difference between Mathematics and Applied Mathematics?
At the simplest level, mathematics, sometimes called "pure mathematics" is the science of solving problems to obtain an answer. Applied mathematics is the science of solving problems in order to discover answers to problems outside of mathematics, such as within physics or economics.
