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Answered 2014-06-05 09:19:59
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.
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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
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