What is the relation of chemistry to economics?

Answer 1

Most common application of chemistry in agriculture is the production of fertilizers like urea, calcium and ammonium phosphates, nitrates, potassium products etc. Pesticides used in agriculture are also a gift of chemistry.

Answer 2

Chemistry! It's essential to our everyday lives and the economy. The business of chemistry transforms the natural raw materials of the earth, sea and air into products that we use everyday. It creates products that bring major societal benefits to quality of life, health, productivity, convenience and safety.

The science and materials of chemistry make the lives of Americans and others throughout the world safer, healthier and more productive. Indeed, our food, safe water supply, clothing, shelter, health care, computer technology, transportation and every other facet of modern life, all depend upon the business of chemistry.

Answer 3

In simple words economics is chemistry of wealth. Both are mirror images of each other. Every principle or law in chemistry holds good for economics too. For example: Law of demand and supply, Quantity Theory, Law of Diminishing Marginal retuns/utility of economics are other way of putting chemistry's Law of Mass Action

Answer 4

Chemistry and economics are related in various ways, particularly in industries such as pharmaceuticals, agriculture, and energy. Chemistry influences the development of new materials, processes, and products that can impact economies through innovation and market demand. Additionally, economic factors such as supply chains and pricing can influence the direction of chemical research and development.

Answer 5

chemistry like economics is based on assumptions.

Answer 6

what is the importance of chemistry in our country

Answer 7

It is a career subject