Economic literacy is the ability to use economic concepts to make rational decisions about various aspects. The study highlighted the importance of understanding economics in order to make rational decisions. It stresses how important different factors are in affecting people's levels of economic literacy. These factors include the belief in the benefits of economic literacy, economic knowledge, economic rationality, individual economic planning, and social economic reflections. The study surveyed 514 individuals and the data collected were analyzed using smart PLS. The outcomes of the study determined that economic knowledge, economic rationality, and individual economic planning significantly influence economic literacy. However, the belief in the benefits of economic literacy and social economic reflections did not significantly impact economic literacy. These findings underscore the necessity for targeted initiatives to enhance economic education, especially in developing nations. The study helps people understand how important economic literacy is for individuals as well as for the nation..
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