Inrecentyears,acompletely new field of technology has developed from advances in the life sciences. Known as biotechnology, it involves such varied activities as genetic engineering, the manipulation of genetic material of cells or organisms, and cloning, the formation of genetically uniform cells, plants, or animals. Although still in its infancy, many scientists believe that biotechnology will play a major role in many fields, including food production, waste disposal, and medicine.
Economics may appear to be the study of complicated tables and charts, statistics and numbers, but, more specifically, it is the study of what constitutes rational human behavior in the endeavor to fulfill needs and wants.
We can say, therefore, that economics, often referred to as the "dismal science", is a study of certain aspects of society. Adam Smith (1723 - 1790), the "father of modern economics" and author of the famous book "An Inquiry into the Nature and Causes of the Wealth of Nations", spawned the discipline of economics by trying to understand why some nations prospered while others lagged behind in poverty. Others after him also explored how a nation's allocation of resources affects its wealth. (Investopedia)
What is the relevance of studying economics Alfred Marshall enumerated the following as reasons for the study of economics: a. Students need to develop economic ways of thinking and problem solving that they can use in their lives as consumers, savers, entrepreneurs, investors, workers, citizens, and participants in a global economy;
b. Economics creates a more vivid understanding of costs and benefits than any other subject; c. Students who do not appreciate the accomplishments of a market economy will not work to preserve it; d. Students must understand economics to become productive members of the workforce; e. The case for economic literacy is the case for democracy itself. If war is too serious to be left to military professionals, economic understanding is too important to be left to economists;.
Science is systematicstudyof anything that can be examined, tested, and verified. From its early beginnings, science has developed into one of the greatest and most influential fields of human endeavor. Today different branches of science investigate almost everything that can be observed or detected, and science as a whole shapes the way we understand the universe, our planet, ourselves, and other living things.
Foralargepartofrecorded history, science had little bearing on people's everyday lives. Scientific knowledge was gathered for its own sake, and it had few practical applications. Today, science has a profound effect on the way we live, largely through technology-the use of scientific knowledge for practical purposes.
Otherfieldsofscience also play an important role in the things we use or consume every day. Research in food technology