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- Economics is a science that deals with the production and distribution of a country's resources.

- Economics is a social science that deals with the utilization of a country's Natural Resources.

- Economics is a social science that studies how people are influenced by the economic system around them. For example, if the price of certain commodity goes up, people will try to conserve that commodity or buy something that costs less.

- "Economics is the study of mankind in the ordinary business of life; it examines that part of an individual and social action which is most closely connected to the attainment of and the use of the material requisites of well-being."-Alfred Marshall, British economist (1900)

- "Economics is a science that deals with the study of human behavior as a relationship between ends and scarce means which have alternative uses."-Lionel Robbins, British economist (1935)

According to Prof. Paul A Samuelson "Economics is the study of how men and society choose with or without the use of money, to employ the scarce productive resources which have alternative uses, to produce various commodities over time and distribute them for consumption now and in future among various people and groups of society. It analyses the costs and benefits of improving pattern of resource allocation".(1948)

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