which definition of economics is the best ? Give reason in support of your answer
Answers
Answer:
economic is the social science that deals with production & consumption of goods and services.
Explanation:
in this generation people want to produce more and more goods and consumer want to consume more goods so this definition is best.
Answer:
Definitions
Economy is the art of making most of life.
- George Bernard Shaw
Economics is the study of mankind in the ordinary business of life.
- Alfred Marshall
Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
- Lionel Robbins
Economics comes in whenever more of one thing means less of another.
- Fritz Machlup
The theory of economics is a method rather than a doctrine, an apparatus of mind, a technique of thinking, which helps its possessor to draw correct conclusions.
- John Maynard Keynes
Economics is the study of the use of scarce resources to satisfy unlimited human wants.
- Richard Lipsey
economic is the social science that deals with production & consumption of goods and services.
Explanation:
in this generation people want to produce more and more goods and consumer want to consume more goods so this definition is best.