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Economics is the study of how people decide to use resources on an individual and collective basis. It examines the kinds of work people do and how much time they spend doing it. Economics also looks at production, investments, taxation and how people spend and save money. Before we commit ourselves to spending time and effort studying economics, it helps to know the advantages of doing so.

Studying economics prepares us to deal with issues in a variety of fields, including business, law, politics, history, taxation and accounting.

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