Study resources on Kenyaplex

Get ready-made curriculum aligned revision materials

Exam papers, notes, holiday assignments and topical questions – all aligned to the Kenyan curriculum.

Or go directly to:

Class notes Holiday assignments Topical questions Other resources

State the importance of economics.

Answers

-Provides the underlying principles of optimal allocation of resources and hence enables individuals and firms to make economically rational decisions

-Enables individuals and organizations to appreciate the constraints imposed by economic environment

-Enables one to appreciate the effect of economic valuables such as inflation, money supply

-Development economics equips one with skills as to why societies develop and means of accelerating that development

Wincate 1 answered the question on October 5, 2017 at 18:50

Answer Attachments

Next: Describe the product life cycle.

Previous: Explain the following activities involved in economics; (a) production of goods and services (b) consumption activities (c) exchange activities d) distribution

View more Economics Questions and Answers | Return to Questions Index

Get ready-made curriculum aligned revision materials

State the importance of economics.

Answers

Exams With Marking Schemes

Related Questions