Question

Economics focuses on making decisions about what happened in the past. TRUE FALSE

Answer 1

False economics is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services.

Answer 2

The correct answer is false.

It is false that Economics focuses on making decisions about what happened in the past.

To the contrary, economics study what happened in economic scenarios in the past, understand the present situation and forecast what would happen in the economic future of a country, taking into consideration many variables. Economics study the production, distribution, and consumption process of services and goods. Economics tries to understand the past in order to forecast, to project scenarios in the future for companies to make the best decisions and do not repeat what went wrong in the past.