Economics is the study of choice under conditions of scarcity or the study of choice with constraints.
Specifically we say that economics is the study of how individuals and societies choose to employ
scarce resources that could have alternative uses to produce products and services, and distribute
them, now or in the future, among various individuals and groups in society.
Link To Content
Specifically we say that economics is the study of how individuals and societies choose to employ
scarce resources that could have alternative uses to produce products and services, and distribute
them, now or in the future, among various individuals and groups in society.
Link To Content
