Answer:
Economics is considered an applied science because it involves the application of economic theories and concepts to real-world situations. In other words, it is a practical field of study seeking to understand and explain how individuals, businesses, and governments make decisions about the production, distribution, and consumption of goods and services.
As an applied science, economics uses a variety of analytical tools and methods to examine economic phenomena, such as supply and demand, market structures, and economic policies. Economists use statistical analysis, mathematical modeling, and other quantitative techniques to study economic data and make predictions about future trends.
In addition, economics also involves qualitative research, such as case studies and interviews, to gain insights into the behavior and motivations of economic actors. By combining quantitative and qualitative methods, economists seek to develop a more complete understanding of how the economy works and how economic policies can be used to achieve desired outcomes.
Overall, economics as an applied science is a dynamic field that is constantly evolving as new economic challenges arise and new analytical tools and techniques are developed.
Step-by-step explanation: