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. Economics provides a framework for understanding the actions and decisions of individuals, businesses and governments. It provides a means to understand interactions in a market-driven society and for analyzing government policies that affect the families, jobs and lives of citizens.
• Many assume economics is a subject best left for government officials and students who love statistics. However, everyone incorporates tenets of this field into their lives on a daily basis: fathers shopping at the grocery store for dinner, teenagers deciding how to spend their summer and a truck driver calculating his route are just a few examples. Economists Charles Wheelan and Burton Malkiel explain in their book, “Naked Economics: Undressing the Dismal Science,” that despite the pervasiveness of economics in everyday life, too few people understand how this field applies to them.

Answer:

as a member of the family and society,Studying economics provides one with not just an understanding of human behaviour, but also cultivates in students the problem-solving, analytical, communication and persuasion skills that are critical for success in today's job market

for me as a student,Economics can be applied in daily life by buying and selling goods. Economics helps us in studying the past, future, and current models and apply themes to societies, government, businesses, and individuals