2006-06-08 07:33:50 · 4 answers · asked by Anonymous in Family & Relationships ➔ Other - Family & Relationships
economics, study of how human beings allocate scarce resources to produce various commodities and how those commodities are distributed for consumption among the people in society (see distribution). The essence of economics lies in the fact that resources are scarce, or at least limited, and that not all human needs and desires can be met. How to distribute these resources in the most efficient and equitable way is a principal concern of economists. The field of economics has undergone a remarkable expansion in the 20th cent. as the world economy has grown increasingly large and complex. Today, economists are employed in large numbers in private industry, government, and higher education (see economic planning). Many subjects, such as political science and sociology, which were once regarded as part of the study of economics, have today become separate disciplines, although the study of any one generally implies a working knowledge of the others.
2006-06-11 02:11:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services
2006-06-08 07:35:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
the science that deals with the production, distribution, and consumption of wealth, and with the various related problems of labor, finance, taxation, etc.
2006-06-08 07:35:11 · answer #3 · answered by twentythree 5 · 0⤊ 0⤋
macro, or micro
buy low sell high
supply and demand
2006-06-08 07:36:30 · answer #4 · answered by Dz Nutz 3 · 0⤊ 0⤋