Lesson 1 - Introduction to Applied Economics | Senior High School Applied Economics

Applied economics is generally considered to be the study of economic principles when they are applied to specific scenarios or situations. In the study and research of economics, there exist two fundamental areas of distinction. The first being “core,” and the second being “applied.”
Objectives:
1. Define basic terms in applied economics
2. identify the basic economic problems of the country.
3. explain how applied economics can be used to solve economic problems