Generally we count human activities which is rendered for rmoney that's why a services of a mother, or services of a wife for her husband or all such activiity which does not mattter for money does not fall in economics study.
2007-04-24 08:44:31 · 3 answers · asked by Iqbal H 4 in Social Science ➔ Economics
Economic is the study of how to allocate scarce resources. They make assumptions about human behavior, utility functions (more is better), they do not study it. From time to time an economist uses these assumptions to examine non money orientated behaviors. By observing behavior they construct preference, which they then use to explain the behavior. Whether or not this approach will produce increased understanding is yet to be seen.
2007-04-24 13:51:21 · answer #1 · answered by meg 7 · 0⤊ 1⤋
Wow. Actually if the science of economics could really do that, it would be far more accurate than it is.
2016-04-01 05:24:24 · answer #2 · answered by Barbara 4 · 0⤊ 0⤋
and your question is?
2007-04-24 11:26:52 · answer #3 · answered by Anonymous · 0⤊ 2⤋