What does refer to economic
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Posted by Vikas Bakshi 5 years, 3 months ago
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Gaurav Seth 5 years, 3 months ago
Economics is a science that studies human behavior which aims at allocation of scarce resources in such a way that consumer can maximise their satisfaction, producers can maximise their profits and society can maximise its social welfare. It is about making choice in the presence of scarcity.
Father of Economics Adam Smith provided wealth definition of economics( Book- The Wealth of Nations, 1776):- Economics is an enquiry into the factors that determine the wealth of a country.
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Poorvi Jain 5 years, 3 months ago
0Thank You