Week 1, DQ 1 What is economics? What role does economics play in your personal and organizations decisions? Give an example of the role of economics in decision making. What is economics? The branch of social science that deals with the production and distribution and consumption of goods and services and their management.

What role does economics play in your personal and organizations decisions? Economics plays a huge part in everyone personal life. Economics is the foundation for everything that is bought from food to gas. It also works hand and hand with supply and demand. For example in my personal life one of the main products that i consume on a daily basis is gasoline for my vehicle which is very dependent on supply and demand. When the demand is lowered the prices go...