1 The study of economics is helpful in several ways . Some of these I
will comment on . First of all , technology levels affect a societies economy ,
so by learning what products are produced and how they are produced , you
can see how technologically advanced a society is . By examining where the
produced goods are sent/used you can get a better idea of what type of
government the society is run by . By studying an economy and seeing how
the economy uses resources , you can learn what resources the society
controls and which ones the society needs . Tied in with this factor of
resources you can get an idea of which countries have leverage over other
2 An economist how a society or government meets the needs and
wants of the populace , either through production or commerce .
Economists see the world as a) profitable b) unprofitable c) and they see
opportunity costs .
By viewing the world in such a manner they are able to
help in the decision making involved with money and industry . They can
help to save money , resources , labor, and time .
3 Microeconomics is the study of an overall economy . In studying
microeconomics you study a wider range of services , productions ,
exchanges . While not as discriminate as macroeconomics , you can get a
broader 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 in
scale , you can learn more about that specific...