Question

What is economics?

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Answer 1

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Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. ... Scarcity means that human wants for goods, services and resources exceed what is available.

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Answer 2

Answer:

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Explanation:

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.

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