Why is economic important in our daily life?
Answer:
It is because Economics affects our daily lives in both obvious and subtle ways. From an individual perspective, economics frames, choices we have to make about work, consumption and how much to save. Our lives are also influenced by macro-economic trends, such as inflation, interest rates and economic growth.
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Answer:
Economics plays a role in our everyday life. Studying economics enables us to understand past, future and current models, and apply them to societies, governments, businesses and individuals.