Describe the limitations of economics.

1.	Describe the limitations of economics.
Answer» Following are the limitations of economics. 1. Economics is a social science. Only human activities are studied in this. Activities of animals and birds and other living organisms are not studied in economics. 2. Study of activities of abnormal and unsocial human beings is not done in economics. 3. That is only those activities are studied in it which can be measured in terms of money. Only economic activities are studied under economics. Although economics is helpful in solving practical problems, yet it does not give a definite solution in their context.

Answer»

Following are the limitations of economics.

1. Economics is a social science. Only human activities are studied in this. Activities of animals and birds and other living organisms are not studied in economics.

2. Study of activities of abnormal and unsocial human beings is not done in economics.

3. That is only those activities are studied in it which can be measured in terms of money. Only economic activities are studied under economics. Although economics is helpful in solving practical problems, yet it does not give a definite solution in their context.

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