In this definition of economics, it asks how man gets income and how he spends it ?
1-wealth definition
2-welfare definition
3-scarcity definition
4-growth definition
Answers
Answer:
I think it's wealth definition
Answer:
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem.
Welfare refers to a range of government programs that provide financial or other aid to individuals or groups who cannot support themselves. Welfare programs are typically funded by taxpayers and allow people to cope with financial stress during rough periods of their lives.
Scarcity refers to the limited availability of a resource in comparison to the limitless wants. ... Scarcity may also be referred to as paucity of resources. A situation of scarcity requires people to judiciously or efficiently allocate the scarce resources to meet the needs of society.
the act or process, or a manner of growing; development; gradual increase. size or stage of development: It hasn't yet reached its full growth. completed development. development from a simpler to a more complex stage: the growth of ritual forms.
Explanation: