At its core, Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. Scarcity means that human wants for goods, services and resources exceed what is available.
Resources, such as labour, tools, land, and raw materials are necessary to produce the goods and services we want but they exist in limited supply. Of course, the ultimate scarce resource is time – everyone, rich or poor, has just 24 hours in the day to try to acquire the goods they want. At any point in time, there is only a finite amount of resources available. There is of course, much more to the study of Economics, you just have to take a course & appreciate it.
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Excel in Economics
Students who choose to study economics not only gain the skills needed to understand complex markets but come away with strong analytical and problem-solving skills, as well as the business acumen necessary to succeed in the professional world. In fact, economics can be useful for professionals in all industries and many aspects of daily life
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Achieving good grades in Economics requires more than just memorizing theories and graphs. It also requires understanding of basic principles, critical thinking, and problem-solving skills. Economics requires clarity of thought & good writing skills. Building a good foundation is the key to success in Economics.
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Plan for Success
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