economic is the study of economic activities. explain
Answers
Answer:
Economics is a social science which deals with the production, distribution and consumption of goods and services. It is the study of how individuals, businesses, governments and countries make choices on allocating resources to motivate their needs and wants and attempt to determine how these categories should gather and correlate attempts to attain maximum output.
Answer:
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
Behind this definition are two key ideas in economics: that goods are scarce and that society must use its resources efficiently. Indeed, economics is an important subject because of the fact of scarcity and the desire for efficiency.