Question

What is the definition of economics?​

Answer 1

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$\huge{\underline{\mathfrak {\purple{Economics => }}}}$

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

Answer 2

Answer:

economics is the study of how society uses its limited resources.

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

The way scarce resources get distributed within an economy determines the type of economic system.

There are four different types of economies

1. traditional economy,
2. market economy,
3. command economy,  
4. mixed economy.

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Explanation: