Briefly explain the nature and subject matter of economics
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Explanation:
➡️ According to modern economist like Peterson and Samuelson the subject matter of economics is a science that studies only those activities of human being which he undertakes to maximize his satisfaction by making proper use of scarce resources.
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Explanation:
The nature and scope of economics are related to the study of wealth or human behaviour or of scarce resources. The scope is very wide and includes the subject matter of economics whether economics is a science or an art or whether it is positive or normative science.
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