Question

definition and scope of economics
​

Answer 1

Answer:

Economics is a SOCIAL SCIENCE, which, like other sciences, is concerned with the explanation and prediction of observed phenomena. Economics studies the way in which societies solve the fundamental problem of reconciling unlimited desires of individuals with scarce resources, susceptible to numerous alternative uses.

Answer 2

Economics is a SOCIAL SCIENCE, which, like other sciences, is concerned with the explanation and prediction of observed phenomena. Economics studies the way in which societies solve the fundamental problem of reconciling unlimited desires of individuals with scarce resources, susceptible to numerous alternative uses. ❑

❑❑❑❑❑❑❑❑❑❑❑❑❑❑❑