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How should 'economics' be defined?

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Answered 2017-05-13 03:15:16

Economics is the social science concerned with the production, distribution, and consumption of wealth and the allocation of scarce resources in order to meet apparently unlimited human wants.

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basic economics is simply defined as that how we manage our scarce resources


Economics explains money and the way it functions in society.


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Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.



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