Question

Statement related to Economics:
a) Economics is a social science
b)Concept of Economics is derived from greek word 'Oikonomia'.
c) Economics is related to the study of human economic behaviour
d) Economics is related to management of the household

Options: 1) a,b and c. 2)a and b
3) b and c. 4) a,b,c and d.



Which one is correct?

Answer 1

Answer:

The statements related to Economics is 4)  a, b, c, and d  

Explanation:

Different economists have defined economics in different ways.  According to the general definition of economics- “The English term ‘Economics’ is derived from the Greek word ‘Oikonomia’. Its meaning is ‘household management’”.

  According to Marshall ‘Economics is the study of social science’. It studies the ‘account the money-earning and money-spending activities of man’ which is related to human economic behavior. Some considered Economics as the ‘study of wealth’.

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Answer 2

Answer:

4

explanation

4) a, b c ,d