Why I Love Economics
I am a student of economics but more than anything else ; it is my HOBBY. Learning and reading economics not only gives me the understanding of wacky theories of why someone would actually buy and consume this particular good. But realistically, it is not about the actual reason why they would purchase the good for eg; I need food cause I am hungry? or something like I need petrol cause I have a car. Economics links the ties between a person in need of some good but what will change their perception of actually buying more of that particular good or less of it.
Throwing consumption of a good aside, economics also touches on why producers would actually make or sell something. The reason is pretty simple behind all those complicated theories. They sell them because they are people actually buying them. Most of you will be like ; DUH isn't that obvious MR genius? Yeah but would you believe me, if I tell you a set of lunch should not be $10 that you are paying and should be less.This is where economics comes in and are used by both sellers and consumers to actually gauge the price of a certain good that is acceptable by both parties.
All this microeconomics aside, Economics also cover the huge topic of macro which involves the interactions of government with us as well as with other countries. I would not go in depth of this topic as it is huge and requires a fair bit of explanation.
However, here's a video about economics in a crash course way:
Cheers,
-Chun Ho Toh- An economic enthusiast with lots of other hobbies such as traveling, gaming and cooking.
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