What are the five definition of economics?

Answer 1

a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing. Thus it is on one side a study of wealth; and on the other, and more important side, a part of the study of man. "Economics is the social science that examines how people choose to use limited or scarce resources in attempting to satisfy their unlimited wants." One can think of economics as the social science that explores the results of people acting on the basis of self-interest "Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses." economics was "the mechanics of utility and self interest.