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In the end; it deals with how people react to incentives. Just like psychology, it deals with how people maximize their own utility and how this affects the overall economy.

2007-02-08 12:46:31 · answer #1 · answered by Anonymous · 1 0

Economics is the social science that studies the production, distribution, and consumption of goods and services. Dimensions of production include measurement, including “how much” (such as of GDP components), “how efficiently,” and “for whom” (that is, 'distribution'). The word 'economics' is from the Greek for οἶκος (oikos: house) and νόμος (nomos: custom or law), hence "rules of the house(hold)."

2007-02-08 18:24:54 · answer #2 · answered by landhermit 4 · 0 0

I think social science is basically a study in human behavior, and what influences people more then money.

2007-02-08 18:27:56 · answer #3 · answered by Mike 6 · 0 0

because it is the very epitome of a "social" science. without a society, you have no need of economics. primitive hunter gatherer cultures just go into the forest and get what they need, and everyone shares whatever they find.

2007-02-08 18:40:02 · answer #4 · answered by Anonymous · 0 1

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