Question

WHAT IS ECONOMICS
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Answer 1

Economics is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work

Answer 2

Explanation:

Economics is defined as in many ways. It is a review of how people use resources, its review or respond to incentives, its review of scarcity and its review of decision-making.  

The word Economics comes from two 'Greek words' namely, "Oikos" which means household & "Nemein" which means management.  

Thus Economics Means Household Management.

The term Economics was first used by DR. Marshall in 1890 in his famous book, "Principles of Economics".

The 'father' of 'modern economics' is Adam Smith