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It helps us understand how our efforts to produce goods and the produce itself are related, including the monetary aspects. On the national level this is macroeconomics and on a more personal level it is microeconomics. Some studies on this subject enable us to forecast what the future in this commerce will be, and even with allowances for inaccuracy, this provides useful guides for planning future activities.
Wiki User
∙ 15y ago
Wiki User
∙ 15y agoamong many other things, economics is used to predict how people will respond to changes in prices and quantity of a good like stocks or Video Games.
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Why knowledge of economics has not spread from the economics profession to the average reasonably well educated person?
In my opinion, as an economics student, the reason is that people find economics confusing and difficult. In order to truly appreciate economics a person must enjoy math and be a graph oriented person. Even though economics is incredibly useful in everyday life, people have the impression that economics is too difficult and is only necessary if one is going into business or government. People connect economics to things like accounting, where it is much simpler to ask for help than to learn it yourself.
What are the classifications of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
Classification of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
What are the scope and significance of business economics?
The scope of business economics include demand analysis and forecasting, capital management, profit management, pricing decisions, policies and practices and cost and production analysis. Some significance of business economics include incorporation of useful ideas from disciplines such as sociology and psychology and reaching a variety of business decisions in complicated environment.
What is the difference between MSc Economics and MA Economics?
what is difference between msc economics and ma economics
How research useful in the economics?
Research is useful in economics to know the need of the consumer.
Why is scientific notation useful in economics?
Scientific notation is useful in economics to compute very large or very small numbers.
Where are the principles of calculus useful?
Everywhere there is change in conditions from communications to economics.
Explain in what way a perfect competition model is a useful analytical tool in economics?
the perfect model
What economics indicator would be most useful for figuring out how healthy a country's business?
Corporate profits
What purpose is math in economics?
so one day, you can use it to get a job and be smart and get into better collages. it is very useful for these things.
Why knowledge of economics has not spread from the economics profession to the average reasonably well educated person?
In my opinion, as an economics student, the reason is that people find economics confusing and difficult. In order to truly appreciate economics a person must enjoy math and be a graph oriented person. Even though economics is incredibly useful in everyday life, people have the impression that economics is too difficult and is only necessary if one is going into business or government. People connect economics to things like accounting, where it is much simpler to ask for help than to learn it yourself.
What do you need to major in to become an editor?
The following subjects are widely considered useful for aspiring journalists: * English Literature * Economics * Journalism
What are the classifications of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
Classification of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
What are the scope and significance of business economics?
The scope of business economics include demand analysis and forecasting, capital management, profit management, pricing decisions, policies and practices and cost and production analysis. Some significance of business economics include incorporation of useful ideas from disciplines such as sociology and psychology and reaching a variety of business decisions in complicated environment.
What has the author Frank Livesey written?
Frank Livesey has written: 'A textbook of core economics' -- subject(s): Economics 'Stage 1 economics' -- subject(s): Economics 'Dictionary of Economics' 'Economics' -- subject(s): Economics, Marketing, Problems, exercises 'A modern approach to economics' -- subject(s): Economics 'Economics (A.C.C.A.)' 'Economics for business decisions' -- subject(s): Managerial economics 'Economics (Marketing)' 'A textbook of economics' -- subject(s): Economics 'Objective tests in A Level economics' -- subject(s): Economics, Examinations, questions, Problems, exercises
