How well does an entrepreneur have to understand economics and finance?

Thanks for the invitation

Economics

A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Economics is a social science that studies the management of goods and services, including the production and consumption and the factors affecting them.

Finance

Finance is the science of managing funds keeping in mind the time, cash at hand and the risk involved.The key areas in finance include personal, business, and public finance. Personal finance relates to the income, source and expenditure of individuals and families, including debts and other loan obligations. 

Branches:

Branches of economics include macro and micro economics.

Branches of finance include personal finance, corporate finance and public finance.

Management:

Profession economists are hired as consultants by private and public sector.

Finance is managed by individuals in families or by banks or other institutions.

Related Courses:

Philosophy of Economics, Laws and Economics, Political Economics

Accountancy, Chartered Financial Analyst and other