Why Study Economics in the 21st Century

Study Economics in the 21st Century Introduction To answer the question what the reasons for studying economics in the 21st century are it is necessary to define the term economics. Economics is the science of economic activities in material and non-material spheres of production, which also comprises the economic relations regarding production, distribution, exchange, and consumption. It is designed to meet unlimited human needs with limited resources. This science has its own methodology, tools, and evidence of axiomatic bases. At the same time, economics is part of daily life constantly surrounding people in society. It is designed to meet the daily needs of a person.