Question

state different definitions to economics

Answer 1

Hey,

Different definitions of economics are:-

1.)The English word economics is derived from the ancient Greek word oikonomia—meaning the management of a family or a household.

It is thus clear that the subject economics was first studied in ancient Greece.

2.)Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses.

3.)Economics is the science that deals with production, exchange and consumption of various commodities in economic systems.

HOPE IT HELPS YOU:-))