Question

What is economics in principle of economics and management?

Answer 1

Explanation:

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• Economics is the science of analyzing the production, distribution, and consumption of goods and services.
• In other words, what choices people make and how and why they make them when making purchases.
• The study of economics can be subcategorized into microeconomics and macroeconomics.

In short, we also write/says:-

Essentially, economics and the economic principle are about satisfying unlimited consumer wants with limited resources. ... Another version of the definition of the economic principle is the study of the choices consumers make and the factors and behaviors affecting those choices.

Answer 2

Answer:

Economics is a social science concerned with the production, distribution, and consumption of goods and services. ...

Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses.