2007-03-11 12:01:55 · 2 answers · asked by Remi S 1 in Business & Finance ➔ Other - Business & Finance
Traditionally it is considered the study of markets, money, businesses, and the economy, but this is no longer true.
Economics has evolved into the application of the philosophy of rationality, utility maximization, and the rational actor to analyze how individuals make decisions. For example Nobel Laurette Gary Becker has studied the individual behavior and decisions related to addiction, racism, and family decisions all under the auspice of economics. These studies focus on individual decisions, behavior, and actions, not money and finance.
2007-03-11 18:01:13 · answer #1 · answered by MagicalMke 4 · 0⤊ 0⤋
the study of our economy and the way that money is exchanged throughout it.
2007-03-11 12:04:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋