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Answered 2013-03-13 21:23:38

The basic Economics are culture, taxes, money, trade, goods and buisness.

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He defines economics as a political science in the production and distribution of wealth.

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The best definition is that by Lionel Robins, "Economics is the social sciences which studies human behavior as a relationship between ends and scare means which has alternative uses"

Economics is the branch of social science that deals with the production and distribution and consumption of goods and services and their management,

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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.

No, that is Adam Smith. He wrote a book called 'the Wealth of Nations'. The fundamental ideas of modern economics have been stated in that book.

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