Why Study Economics

According to our previous lesson "The Economics", a basic knowledge in economics will makes you a _________________.

• well-rounded thinker

• successful student

• good household manager

• financial literate person

Answer explanation

The word “economics” comes from the Greek word “Oikonomia” meaning “management of a household”

According to our previous lesson, economics is important because it teaches us to:

• invest in the future

• spend more

• work harder

• make a right choice 

According to the article “Why You Should Study Economics,”  In which field of studies does economics belongs?

• Humanities

• Social Sciences

• Mathematics

• Natural Sciences

According to the article “Why You Should Study Economics,” how did China elevate the life of over 200 Million Chinese people from extreme poverty?  

• Through government financing

• Through bank loans

• Through financial consultations

• Through a revision of economic policies

Studying economics provides the students with the following  

    except:

• communication and persuasion skills

• borrowing skills

• problem-solving skills

• analytical skills

According to the article “Why You Should Study Economics,” the following countries incorporate economics principles into their government policies except:  

• Japan

• Singapore

• South Korea

• China

According to the article “Why You Should Study Economics,” what is one reason why skilled economists and economic analysts are in heavy demand across industries today?

• To command some of the highest wages in the global job market.

• To pursue lucrative opportunities in marketing, finance, and consulting.

• To make their value proposition clearer and more compelling.

• To follow up the study of economics with an MBA. 

According to the article “Why You Should Study Economics,” what are some examples of choices mentioned in the article?

• When to wake up, whether to watch TV, where to shop for groceries

• Where to go for vacation, whether to switch jobs, what to eat for breakfast.

• How to cook at home, what to wear, whether to exercise or not.

• How much to spend and save, how to allocate savings, whether to   take a regular cab or an Uber.

Why does the article “Why You Should Study Economics,” emphasize understanding economics?

• Because it's unrelated to solving global issues.

• Because it's crucial for solving global problems.

• Because politics alone can solve global problems.

• Because economics doesn't impact major world issues.

According to the article “Why You Should Study Economics,” why does the article emphasize understanding economics?

• Because it's unrelated to solving global issues.

• Because it's crucial for solving global problems.

• Because politics alone can solve global problems.

• Because economics doesn't impact major world issues.