Question

⚡What is Economics?⚡​

Answer 1

Answer:

Economics is the social science that studies how people interact with 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 2

Answer:

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Economics is the study of economic problems (scarce resources and unlimited wants) faced by economy.

Economics is the study of economic problems (scarce resources and unlimited wants) faced by economy.It focuses on rational management of scare resources to maximise the economic gains at the micro and macro level.