"Economics is the study of mankind in the ordinary business of life." comment.
Answers
Economics is a discipline just like many disciplines.
It is a study, indeed because it deals with the education and knowledge of production, consumption and transfer of wealth.
In businesses also, they function with the concept of meddling with functions of production, consumption, investment and profit/losses.
Thus economics tells us about the study of mankind in the ordinary business of life.
It tells us the functions of weighing the pros and cons and how people should learn how to prioritize things according to their utility and value.
It also informs us about the costing, budgeting and the cost benefit analysis, which is something to be done in daily life, looking at demands which are more important, needs rather than wants.
It teaches us about scarcity, how limited things exist and we have to survive with limited purchasing power, and meet all demands effectively.