Give the Definition of the Economics?

Answer 1

Economics is the social science that studies how individuals, businesses, and governments allocate scarce resources to satisfy unlimited wants and needs. It analyzes decision-making processes and the interactions between various economic agents in the context of production, consumption, and distribution of goods and services. The field is broadly divided into microeconomics, which focuses on individual and firm behavior, and macroeconomics, which examines the economy as a whole.