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The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy.

It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs.

The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.

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Velda Hauck

Lvl 13
2y ago

What else can I help you with?