Question

what is economics???​

Answer 1

Answer:

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economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.

economic planning is a resource allocation mechanism that is contrasted with the market mechanism. As a coordinating mechanism for socialist economics, economic planning substitutes factor markets and is defined as a direct allocation of resources

Answer 2

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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.