why is economics important 
as a field of study economics allows us to better understand economic systems and the human decision making behind them due to the existence of resource scarcity economics is important because it deals with the study of how societies use distribute scarce resources and how these processes can be accomplished more efficiently for some economists the ultimate goal of economic science is to improve the quality of life for people in their everyday lives as better economic conditions means greater access to necessities like food housing and safe drinking water 1