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choices made by people faced with scarcity
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Who defined economics as the study of mankind in the ordinary business of life?
alfred marshall
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
What does the study of economics include?
Economics is the study of wealth and its distribution.
Why is it necessary to study economics?
Because Economics is a Study of Body of Knowledge.
What is the study of economics an important exercise?
why is the study of economics an important exercise
Who defined economics as the study of mankind in the ordinary business of life?
alfred marshall
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
What does the study of economics include?
Economics is the study of wealth and its distribution.
Why is it necessary to study economics?
Because Economics is a Study of Body of Knowledge.
What is the study of economics an important exercise?
why is the study of economics an important exercise
What is Economics best defined as the study of how societies deal with what?
Economics is best defined as the study of how societies deal with the problem of scarcity and the allocation of limited resources to meet the unlimited wants and needs of individuals. It examines how choices are made regarding production, distribution, and consumption of goods and services. Additionally, economics explores the trade-offs and opportunity costs involved in these decisions, highlighting the impact of these choices on overall welfare and societal outcomes.
What is study of economics called?
It is called economics
What are the advantages of studying economics?
Economics enables us to understand money, its behaviour , and importance. Economics makes a nation prosper, and makes a person educated in a real sense. Economics is defined as a science of money and money being the most important factor in modern man's life it is most important to study.
What the study of how wealth is created and distributed?
Economics
How long have we had the study of economics?
but the study of economics dates back only a few hundred years.
How schould my study in economics?
In economics you will study how to work in the financial districts and learn how to manage money.
How does the study of economics depend upon the phenomenon of scarcity?
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
