Econometrics is a studying about allocating of limiting resource for response unlimited wanting. Limited resources means limited factor of production. Limited factor of production includes land, capital labor, and entrepreneur. A land owner get revenues from a rent, a capital owner get revenues from an interest, a labor owner get revenues from salary, and an entrepreneur get revenues from a profit. Economics occurs from unbalancing of demand and resource.
The important of economics can be divided in 4 types; in the case of producer, caused efficiency in economics by the most benefit from the lowest capital. In the case of consumer, a consumer will choose pleased goods because they have limited income. In the case of people, they should understand an economics problem, adapting their behavior and cooperate with the government in different situations. Thus people and government must interdependent. In the case of government, they have to solve unemployment, increase economic growth, sustain economic stability, and transitorily develop for young generation for the future