As participants in a global economy, the young people of today and tomorrow will face a plethora [large number] of possibilities that our generation could only dream about. it is our duty to give them the tools they need to make the best choices among these seemingly infinite possibilities. . . . i believe that economics can provide such tools unlike any other discipline. —william poole, federal reserve bank of st. louis according to the quote, why does this economist think students should study economics? to learn how to make good economic decisions to limit future possibilities to learn how to become us politicians to become equipped to understand their dreams

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08-08-2022
Social Studies

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As participants in a global economy, the young people of today and tomorrow will face a plethora [large number] of possibilities that our generation could only dream about. it is our duty to give them the tools they need to make the best choices among these seemingly infinite possibilities. . . . i believe that economics can provide such tools unlike any other discipline. —william poole, federal reserve bank of st. louis according to the quote, why does this economist think students should study economics? to learn how to make good economic decisions to limit future possibilities to learn how to become us politicians to become equipped to understand their dreams

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Tutorconsortium319 Tutorconsortium319 · Answer 1 · 2022-08-11T15:04:53+02:00

Our youth learn how to make effective decisions in managing their own limited resources, such as time and money, by studying how markets operate.

Why economics is important in our daily life?

Both overt and covert effects of economics can be seen in our daily lives. From a personal perspective, economics shapes a lot of the choices we have to make regarding our careers, pastimes, expenditures, and level of savings. Our way of life may be impacted by macroeconomic trends like inflation, interest rates, and economic growth.

What is the most important thing in economics?

Everyone has a fundamental understanding of scarcity because we have all experienced its effects, whether or not they are aware of it. This fundamental economic problem still remains unresolved since there aren't enough resources in the world to meet everyone's allegedly insatiable desires.

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