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2010-06-16 09:15:19
2010-06-16 09:15:19

science of the production and distribution of wealth.


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The conditions that give rise to the brief definition of economics is the law of supply and demand. Markets fluctuate according to how much is produced and how much is sold.

it is to give gives priorities among to wants

There is no "exact" definition for economics but if I had to give a definition I would say this. Ecomonics- The scientific study of how individuals and groups make decisions with limited resources as to best satisfy their incentives.Second answerThe definition I was taught is that "economics is the study and investigation of the systems by which societies allocate scarce commodities among alternative uses".it also means the information of the country

Micro economics and macro economics

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Economics is conceptual as well as metrical.

cost of what you give up to get it

According to Robbins, economics is a positive science but in reality it is not positive science deals with material things, the results of which are certain but economics deals with human behavior which is uncertain. Only A Valuable Theory: Robbins has reduced economicsmerely to the valuation theory. According to 'Frazer' economics is more than a valuation theory. Robbins has widened the scope of economics extra ordinary. He has included number of matters in economics which are in fact not discussed in economics. According toRobbins, it covers the whole human life. For example, if you are to choose between the worship of God and that of Mammon (riches), it will be an economic problem while it is spiritual issue. According to Robbins, economics has no normative aspect while it is incorrect.Normative science is that which deals with the matter of material well beings. It is also pointed out that Robbins definition ignores the macro aspect like determination of national income and employment. But in reality this is very important work of economists. It is also pointed out that Robbins definition has made economics colorless, abstract and difficult. It is in fact a definition of economics only for economists. A common man cannot get any utility fromit. Human Love Missing: Human love is entirely missing in Robbins definition of economics. He has not mentioned any thing about man's welfare. According to Robbins, an economist is a neutral person. He has no concern whether the ends are good or bad. But in reality an economist cannot be neutral person. He must give views on the solution of actual economic problems. Some writers point out that it fails to explain the problem of unemployment which is a main economic problem present time. According to Robbins, means are always scarce. But in some countries, one of the economic means, i.e., labour is not scarce. It meansRobbins definition is based on wrong assumption. The theory of economic growth or economic development has become the important branch of economics. This definition ignores it. It means it should be discussed in economics that how does economy grow and which factors bring about increase in nation income and productive capacity of the economy....

How can I give definition of this word? What is the definition of merc?

marshal defined economics as 'study of mankind in the ordinary business of life ' his definition is called as welfare definition. he classified all activities into different categories like economic,social, religious etc...he included material matters as factors of economic development . he give priority to men & eco - social science his definition was criticised because of 2 reason 1)he took only material factors as factor of economic development ie; the services were not taken into consideration 2)he classified activities into different categories

what are the branches of biology and give their definition

In the sentence 'Can you give a definition for that word?', YOU is the subject.

The word paralimanotinsice is not a real word to be able to provide a definition or give a description to. If inquiring about what a Parliament is, it is a form of government in various countries.

Give and explain five reasons why you would recommend the study of economics to a business student?

give the definition of an andle

Definition of heed is: to give careful attention to

noun 1. (used with a singular verb) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2.(used with a plural verb) financal considerations; economically significant aspects: What are the economics of such a project?There is no "exact" definition for economics but if I had to give a definition I would say this. Ecomonics- The scientific study of how individuals and groups make decisions with limited resources as to best satisfy their incentives.

definition of nonparametric equestion?and give exampls?

Cos the people in charge are bastards. They don't care about anyone but themselves. Who determines that developed countries are responsible for taking care of lesser developed countries? You? Me? Someone else? The reality is that most people are only going to look out for themselves, countries and governments are simply an extension of this mentality. Right or wrong, it is ultimately a matter of survival of the fittest. Perhaps sometime in the future, society as a whole will realize that survival of the fittest sometimes requires that the 'fit' give aid to the 'less fit'.

what do you mean by consumer;s behavior give its importance in ecomonics

Definition, (n) A description of the meaning of a word. That was an example.

Increased sales which translates to increased revenues is an example of an outcome in the game of economics. There is usually circulation of currency in such an economy.

This related link will give you a full definition of a customary fee

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