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The Study Of Econonmics. An Opinionated Essay

605 words - 2 pages

1 The study of economics is helpful in several ways . Some of these Iwill comment on . First of all , technology levels affect a societies economy ,so by learning what products are produced and how they are produced , youcan see how technologically advanced a society is . By examining where theproduced goods are sent/used you can get a better idea of what type ofgovernment the society is run by . By studying an economy and seeing howthe economy uses resources , you can learn what resources the societycontrols and which ones the society needs . Tied in with this factor ofresources you can get an idea of which countries have leverage over othercountries .2 An economist how a society or government meets the needs andwants of the populace , either through production or commerce .Economists see the world as a) profitable b) unprofitable c) and they seeopportunity costs . By viewing the world in such a manner they are able tohelp in the decision making involved with money and industry . They canhelp to save money , resources , labor, and time .3 Microeconomics is the study of an overall economy . In studyingmicroeconomics you study a wider range of services , productions ,exchanges . While not as discriminate as macroeconomics , you can get abroader picture and grasp the basic concepts of an economy .Macroeconomics studies the study a single aspect of an economy ,lets say the mining of coal . You don't research the delivery , the 'market' ;all you study is the actual mining process . While this may be more limited inscale , you can learn more about that specific process . You don't see thewhole picture but you can find the specifics on that subject .4...

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