Question

You question -:

What is economics?​

Answer 1

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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

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• In its most simple and concise definition, 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. ...

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