How economic important in our life?



Answer:
Understanding economics is very important in our life. Economics explains ( with varying levels of accuracy and some ambivalence) many aspects of life: income, earnings, expenditures, employment, unemployment, competition etc. Pretty much everything from law to culture to domestic relations could be reduced to economics. The strength of this argument, however, was also its main weakness — it explained too much.I’ve thought about how central I think economics is to life. In short, I agree economics goes a long in describing what we see.

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