Answer:
Understanding the economy better influences your spending habits, as well as gives you insight into the economic state of the world. This is important when you decide to do things like buy a car, go to a restaurant, go to a movie, or give back to your community. Economics, at its core, is the study of how to evaluate alternatives and make better choices. It develops critical-thinking and problem-solving skills to make good decisions. It develops analytical skills to examine data to support good decisions. Financially, this is important because we need those critical-thinking skills to increase our ability to spend wisely.