Why do you study economics as a business student?

As a business student, we have to know the meaning of Economics. Which is the science of scarcity? It will help the business student to choose between his resources which have alternative uses because resources are scarce. There are various reasons why we study economics, those are:
 

1.   Career Preparation:

Economics is an extremely practical field, and a major in economics is excellent preparation for careers in business.

2.   Production with scarce resources:

A business student will be a businessman. Without the knowledge of using scare resources a businessman can’t high production. 

1.   Understanding of money:

A business must have an understanding of money and its use.

4.   Demand and supply:

Creating the difference between demand and supply, knowing how demand and supply work is important to a business student.

5.   Market reaction:

A business student has to know the market reaction towards a product.

6.   Maintaining balance:

Maintaining a balance in analyzing things at micro and macro level has to know by a business student.

7.   Realizing condition:

A business student must realize the condition of our business at different time intervals.

8.   Economics knowledge is useful at a personal level:

Learning about interest rates, exchange rates, economic indicators and equity markets can help a business student make better decisions about investing and obtaining mortgages.

Finally, we can conclude that Business student basically involve with the study of management which is part of firms operation in both goods market and resources market in economics. In other words, management and business are subset to economics.