Question

What is the meaning of science? Is economics a science? Elucidate.

Answer 1

Answer:

Explanation:

Economics is the scientific study of the ownership, use, and exchange of scarce resources - often shortened to the science of scarcity. Economics is regarded as a social science because it uses scientific methods to build theories that can help explain the behaviour of individuals, groups and organisations.

Answer 2

Question:

→What is the meaning of science? Is economics a science? Elucidate?

Answer:

• Scarcity

Explanation:

→Economics is the scientific study of the ownership, use, and exchange of scarce resources – often shortened to the science of scarcity. Economics is regarded as a social science because it uses scientific methods to build theories that can help explain the behaviour of individuals, groups and organisations.

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