Short Answer Type Questions:
Define Economics.
Answers
Answer:
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
2.
the condition of a region or group as regards material prosperity.
"he is responsible for the island's modest economics"
Economics is the social science that studies how people interact with things of value; in particular, the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
Answer:
Economics is the social science that studies how people interact with things of value; in particular, the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.