Question

Give an idea of development of economics as a science in the west .

Answer 1

scholars wanted to understand the resources and commodities traded in daily basis...annd also to provide a standard definition to it...hence they derived a arudy called "economy"....
soon the government realize its convinence...usee it to monitor the wealth of the country...

Answer 2

Answer:

The earliest Western theory of development economics was mercantilism, which developed in the 17th century, paralleling the rise of the nation state. ... Mercantilism held that a nation's prosperity depended on its supply of capital, represented by bullion (gold, silver, and trade value) held by the state.