“Economics is a science of wealth”. What does this imply?
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Answer:
The statement 'economy is a science of wealth' can be loosely understood as;
Explanation:
- Economy is a science that deals with wealth matters, money matters.
- This means that economy is the empirical study of money and the generation of knowledge on wealth out of established facts from research.
- Therefore, the statement referes to the objectivity of economy which deals with economic matters, and as we know, economy is wealth.
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