Importance Of Economics:
In modern times the importance of the study of economics is infinite. It not only provides us knowledge, but also helps to solve the different problems in real life. The importance of economics in different areas of human life is discussed below: In the daily life of people: People are confronted with manifold wants in their daily life. But the resources to satisfy those wants are limited. By studying economics we can know the use of limited resources to satisfy alternative wants on the basis of priority.