Answer:
Economics can be defined in a few different ways. It's the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making.
Step-by-step explanation:
Answer:Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Behind this definition are two key ideas in economics: that goods are scarce and that society must use its resources efficiently.
5.8m questions
7.5m answers