The people of underdeveloped countries are the followers of orthodox lines of action. They follow the superfluous customers and traditions which cause the waste of scare and precious resources. They consume lavishly on the occasions of various festivals, marriages and deaths. Waste of resources keeps the economy backward and retard economic development. Study of economics reveals that which expenditure is necessary and which is unnecessary. Avoiding unnecessary expenditure may be the guarantee of economic success and development. Economic study, in this way, changes the social values.
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