everyone studying economics
Economists, policymakers, and students of economics must know the scientific definitions of economics to understand and analyze economic concepts effectively. Additionally, business leaders and financial analysts benefit from this knowledge as it informs decision-making and strategic planning. Understanding these definitions helps ensure that discussions and analyses are grounded in established theories and principles.
Everyone studying economics
Everyone studying Economics.
"Economics is the study of how people relate to each other" is a statement that does not define economics.
economy. that's why it's called economics. for definitions, search encyclopedias.
understanding basic definitions
home economics management have to do with cooking,sewing,clothing and textile,and the tools/equipment we use to do those activities.
Both! The ideas and concepts behind managerial economics all have a scientific basis. Some managerial decisions made using managerial economics can employ scientific explanations. On the other hand, many managerial decisions made using the concepts of managerial economics are very subjective. One must, for example estimate the intentions of competitor firms. While some of this is scientific, some of it is luck and some of it is an art.
There are many definitions that could be included here. They may be microeconomics, supply, demand, macroeconomics, and many more.
ACCORDING TO PARETO, "it is the waste of time to investigate what it may be"
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