Why Economics?

Whether you agree or disagree with the extent of the role your local, state, and federal governments play in making economic decisions, that involvement is a given. Governments make economic decisions for society based on what the elected leaders, and the people who chose them, perceive are the important needs.

The government is not the driving force in the economy, however, you are! As a consumer, you play the most important role in determining what companies produce by choosing where you spend your money. Of course, one of the most important factors in your decision about whether to buy something is the price. As you just learned, the principles of supply and demand have a huge impact on what companies make, how many they make and what they charge for those items. The better you understand how these principles work, the better you'll be able to make purchases that maximize your buying power. Thinking about buying the latest electronic gadget for Christmas? Maybe you should wait until January instead when the price plummets!