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Is Economic the social science concerned with the best use of scarce resources to achieve maiximum satisfaction of economic wants?
Wiki User
∙ 14y ago
The best answer is "not exactly." The most popular definition of economics is the social science which studies the allocation of scarce resources to alternate and competing ends. Economics is more concerned with "optimality" (e.g. "best" use) rather than simply maximization of, for example, consumer satisfaction.
Wiki User
∙ 14y ago
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What satisfaction is the satisfaction obtained from money?
This is called "economic satisfaction" or economic security. Some characterize it as false satisfaction. Similarly the term "employee satisfaction" is often related to income, but not entirely.
What are economic resourses?
Economic resources are resources that help the place.
Which department is concerned with the efficient use of your national resources in order to create a more productive economy?
The department that is concerned with the efficient use of your national resources in order to create a more productive economy is the Bureau of Economic Analysis. This provides economic statistics including the GDP.
Classification of economic resources?
there are two types of economic resources: a. Property resources b. human resources
What is the meaning of socio economic?
The official definition of the word socio-economic is "relating to or concerned with the interaction of social and economic factors."
What is the economic life of a country?
Economic is the science which is concerned with how socities allocate scarce resources.
What is ment by economic resources?
Inputs used in production to meet the utility satisfaction in the condition of scarcity.
What satisfaction is the satisfaction obtained from money?
This is called "economic satisfaction" or economic security. Some characterize it as false satisfaction. Similarly the term "employee satisfaction" is often related to income, but not entirely.
What are economic resourses?
Economic resources are resources that help the place.
Which department is concerned with the efficient use of your national resources in order to create a more productive economy?
The department that is concerned with the efficient use of your national resources in order to create a more productive economy is the Bureau of Economic Analysis. This provides economic statistics including the GDP.
What is economic zoology?
it is mainly concerned with the animals of economic importance.
Classification of economic resources?
there are two types of economic resources: a. Property resources b. human resources
What is the difference between economic and noneconomic?
Economic activity is the activity in which we work for earning an incom. Non economic activity is the activity wich we do it for our satisfaction.
What is the meaning of socio economic?
The official definition of the word socio-economic is "relating to or concerned with the interaction of social and economic factors."
What is the difference between economic and noneconomic activity?
Economic activity is the activity in which we work for earning an incom. Non economic activity is the activity wich we do it for our satisfaction.
What is Economic efficiency concerned with?
The economic development of Liberia is tired up with two key commodities namely
Economics is concerned with using scarce productive resources efficiently in attempting to satisfy society economic wants this staement is?
positive, but incorrect
