3 Answers

Read here.....

http://economics.about.com/cs/studentresources/f/whatiseconomics.htm

Or here......

http://economics.about.com/cs/studentresources/a/why_economics.htm

It helps keep you from going broke.

Economics is the study of principles concerning how to allocate money or resources.  Most things cost money if we don't already have as much of the items we want.  We can also want intangible things like happiness and love and time but let's stick to tangible things for this discussion.  Most people want to obtain more things than they have money to buy them with.  When that is the case, the person must decide how badly each thing is wanted (or needed) and proritize which things he will buy with the money (or credit) available to him.  This process of deciding how to spread out his purchase with the money available is "economics".  If you spend money on frivilous or unimportant things, there won't be any money left over to buy the more importan things.  Does this sould like what is going on in Washington, DC by our government?  Well, it is and that's why you need to learn economics so you can give feedback to how your tax dollars are spent and to your spouce on how to spend your family budget money.  The same principles apply to "TIME".  Everybody had 24 hours in every day.  If you waste time on unimportant activities, you can't spend that time on more important activities.  Do you know the definition of success and of happiness? Success is getting what you want.  Happiness is wanting what you get.  I can't help you with "love".