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1. To learn how to distribute scarce resources efficiently.
2. To understand how the market will react to certain actions (Both on the consumer side and supplier side).
3. Help make predictions as to when prices increase/decrease.
4. Find out how to minimize your costs and maximize your profits/benefits/outputs.
5. Be able to figure out how to work at the margin.
6. Help make rational decisions.
What else can I help you with?
What are people who study economics called?
economists
Which definitions does not describe economics?
"Economics is the study of how people relate to each other" is a statement that does not define economics.
What is the basic concern of economics?
the basic concern of economics is to study the choices people make
Is economics the study of mankind in the ordinary business of life?
No, economics is the study of how people deal with the condition of scarcity with limited allocations of resources.
What is the study of how people meet their needs and wants?
Economics
What are people who study economics called?
economists
Which definitions does not describe economics?
"Economics is the study of how people relate to each other" is a statement that does not define economics.
What is the basic concern of economics?
the basic concern of economics is to study the choices people make
Is economics the study of mankind in the ordinary business of life?
No, economics is the study of how people deal with the condition of scarcity with limited allocations of resources.
What is the study of how people meet their needs and wants?
Economics
What is ecnomices?
Economics: the study of how people's wants and needs are met.
What is the study of how people use resources to meet their needs?
ECONOMICS
The study of how people use resources to meet their needs is?
Economics
What does the study of economics include?
Economics is the study of wealth and its distribution.
What is the difference between anthropology and economics?
Anthropology is the study of past human species. While economics is the study of the economy. Actually, anthropology is the study of humans, including our ancestry and culture. Economics is the study of the economy, but more generally it is the study of how people make choices about how to use resources when those resources are limited. In that sense, economics can be thought of as a specialized sub-field of anthropology.
What is the study of how a country makes and uses the things its people need?
economics
Economics is defined as a study of the?
choices made by people faced with scarcity
