Question

Compare and contrast various definitions of Economics

Answer 1

Answer:

“Economics is the study of man in ordinary business of life. ... “Economics is the science which studies human behaviour as a relationship between multiple ends and scarce means, which have alternative uses.” A comparative study of both the definitions is made on the basis of their similarities and differences.

Answer 2

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➡Economics is the study of mankind in the ordinary business of life.

➡Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.

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