Question

discuss the subject matter of economics?​

Answer 1

Answer:

Economics is concerned with the study of economic problems at the level of an economy as a whole, on one side and on the other, it is concerned with the study of an individual too. The subject matter of economics is studied under two broad branches viz microeconomics and macroeconomics

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Answer 2

Answer:

Economics is a science of human behaviour concerned with allocation of scarce resources/means in such manner that consumers can maximize their satisfaction, producers can maximize their profits and the society can maximize its social welfare . It is divided into two parts :

1) Microeconomics

2) Macroeconomics

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