Hi! I'm currently working on flvs, and for my DBA I have the question, "Why is studying economics valuable?" so in simple wording, why is it valuable to study?

Question

alones · Answer

"Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Our discipline has two important features. First, we develop conceptual models of behavior to predict responses to changes in policy and market conditions." 


Revise that to your own words..