Why economics is part of your life?

Answer 1

A healthy economy, in which a country is exporting (selling) more products than it is importing (buying).

A healthy economy decreases the price of not only products made in other countries, but also in your home country, as the more of a product a factory makes, the cheaper each individual product is. If a factory is exporting to other countries, it will make even more of a product, to supply demand at home and in other countries, and thus where ever the product is bought, it will cost less than if the factory making it was not exporting it (in which case you could only buy the product in the country where the factory is located).

There are other ways the economy effects your life as well, but this is the most obvious and significant, though too many imports can also cause people in the country that is doing the importing to lose their jobs, because the products they make may be cheaper if made in Another Country.