ECO 372 Week 1 DQ's

What is economics? Do not repeat what the text says; put it in your own words. Why is it considered a social science? How will understanding economics help you in your personal life, and in your business life? Give some specific examples.

Answer:

What is Economics?

I feel that economics is the process that we go through to make our decisions on a purchase. Do we need it or is it something that we just want to have. The ability to purchase something without knowing what repercussions that it can have on us in the future. With the way that the economy is now, millions of us have changed our attitudes from 2006 of "I want that" to "do I really need it?"

Why is it considered a Social Science?

Economics is the measure of the well being of a society. How...