Concept of economics

1.	Concept of economics
Answer» Economics is a social science which studies tge economic behaviour of human beings about they use their limited resources to satisfy unlimited human wants in the conditions of scarcity.<br>Economics\xa0is a science that studies human behavior which aims at allocation of scarce resources in such a way that consumer can maximise\xa0their satisfaction, producers can maximise their\xa0profits and society can maximise its social welfare. It is about making choice in the presence of scarcity.

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