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Why the study/checking chemical and physical properties of daily used substances/material is important?

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Hint: The nature of a material determines its usage otherwise it may render people to accidental injuries and harm.

Complete answer:
Physical property is a characteristic that can be determined without changing the substance or material’s chemical identity. While Chemical property is that characteristic that can be determined only by changing a substance’s molecular structure.
The knowledge of physical and chemical properties of daily use substances is important as it helps to optimally know about its maximum advantages and type of uses. Its property provides information about their proper storage and their shelf life at high temperature or low temperature. Knowledge about its composition can help to avoid complications like allergies. They help to classify matter and recognize different things like the difference between toxins and something harmless. The study of chemical properties helps to know if any type of matter will have a certain chemical reaction when mixed with other types of matter.
The main physical characteristics of any matter are mass, volume, weight, density, odor, and color. Its study helps to know and understand the correct ways to handle and store types of matter. Some chemical properties of a substance are flammability, toxicity, acidity, reactivity (many types), and heat of combustion.

Note: Physical properties of a substance depend on its chemical properties. Some extensive properties like mass and volume, depend on the amount of matter present but there are Intensive properties like density and color, which do not depend on the amount of the substance present.