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www.reference.com/world-view/studying-economics-important-5dc32ec8226e23fa

Economics plays a vital role in making modern civilization function, so studying economics helps experts learn how to prevent problems. Studying economics also helps when running or managing a business. Economics is often viewed as a scientific field.

www.reference.com/article/main-concern-study-economics-3ebf30039d0edd7b

The American Economic Association states that the study of economics is primarily concerned with how people use resources, such as people's time and talent, land, equipment, products and services. Economists and students of economics study land, labor and investments of income, money, production, ta

www.reference.com/article/home-economics-acf6212973713ad5

Home economics is the field of study dealing with the management of the home and its place in the broader community. In the past, home economics, known to many simply as home ec, was strictly concerned with traditional homemaking and taught only to girls. Today, the field encompasses a broader range

www.reference.com/article/origin-economics-6d41c978dae0e7f4

Investopedia explains that the origin of economic thought lies with a man named Adam Smith who was heavily influenced by French writers and philosophers. Smith developed the discipline of economics as an alternative to French mercantilism, which was an easily exploited system that benefited the weal

www.reference.com/world-view/economic-globalization-3c715a10c2794972

Economic globalization is the increasing interdependence of national economies that has resulted from growing levels of trade between nations. This integration of the world's economies is possible as a result of technological advancements that allow for quicker communication around the world, as wel

www.reference.com/article/three-economic-systems-68353c9bba89a5

The three economic systems are the traditional, command and market economic systems. Different countries use different economic systems.

www.reference.com/article/determines-economic-growth-81073e80fd708d79

According to Economics Help, economic growth is caused by an increase in aggregate demand and supply. An increase in national output and national income also contributes to a country's economic growth.

www.reference.com/world-view/economic-map-987c76b6940677f7

An economic map is a map that illustrates various economic activities or phenomena that take place in a particular area. This type of map features a variety of symbols and colors referring to particular economic activities.

www.reference.com/world-view/economic-interest-group-df45348f7c03843a

An economic interest group is a collection of people with common interests and concerns that advocate for economic benefit for the members of the group. Common types of economic interest groups are business groups, labor organizations and professional associations.

www.reference.com/article/demand-economics-bd66a9e2c7aa46e6

In economics, demand is the quantity of goods or services that consumers are able and willing to buy at a given price at a particular time. The law of demand provides that, if all other market factors remain constant, the demand for goods and services increases as their price decreases.