Adam Smith
Economics is a science of wealth.
Adam smith
Define it as: the science of understanding how man maximises his outcomes in conditions of scarcity.
Because of the improvement or it means to know
Economics is not a pure science. It contains some elements of both science and art. In particular, one of the requirements of a science is that it can perform predictions in areas not yet experienced. And that these predictions can be tested for accuracy.This is not a common event in economics, otherwise all the stock market punters would be rich.
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Economics is a science of wealth.
Economics is a science of wealth.
Adam smith
Define it as: the science of understanding how man maximises his outcomes in conditions of scarcity.
Because of the improvement or it means to know
science of the production and distribution of wealth.
Economics is not a pure science. It contains some elements of both science and art. In particular, one of the requirements of a science is that it can perform predictions in areas not yet experienced. And that these predictions can be tested for accuracy.This is not a common event in economics, otherwise all the stock market punters would be rich.
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.
Economics
economics is a social science
economics is a science of scarcity