The Importance of Learning Economics in Today's World
With an ongoing global recession occurring due to the Covid-19 pandemic, it has become extremely important for everybody learn the basics of Economics . This will benefit you in so many ways as is about to be discussed below. Day to Day Decisions: Often more than not, people ponder why certain products cost more in the market than others. With the knowledge of the basics of supply and demand, they can understand that it is usually because of a low supply and high demand that products have a high price. Furthermore, learning e conomics helps you to not fall to misleading marketing strategies and also pushes you to think about both positive and negative externalities while doing a task. Life Decisions: Learning economics helps with making important decisions that can benefit your whole life. You will be able to choose between loans of various interest rates and decide which plots of land to buy in accordance to the real estate market trend. By analyzing the current situation of the ma