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1. It help us in highlighting the presence of unity of economic ideas and how this unity connect us with ancient times.
2. It help us in understanding the origin of economic ideas.
3. It provides a basis for comparing different economic ideas thereby enabling an individual to have a well balanced and reasonable economic judgement.
4. It help us to avoid errors and mistakes committed by earlier economic thinkers and this enable us to come up with more refined economic ideas.
5. It enable us to know and appreciate the persons responsible for the formulation of certain economic principles.
6. It enable us to determine how time,place and circumstances influenced economic ideas.
7. It enable us to appreciate the role of economic ideas in shaping economic policies and political policies of different countries.
Jonmhumble answered the question on November 23, 2017 at 19:56
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