Explain the origin of economics as a philosophy and a science.

1.	Explain the origin of economics as a philosophy and a science.
Answer» Human beings are the most intellectual creatures among all the living, organisms of the earth. With the help of their intelligence and logic they are able to examine, distinguish and classify their surroundings and environment. To ensure a happy and prosperous life man created various social and political institutions and economic systems. In order to understand importance of such systems, sustain them over a long period of time and to resolve the complexities that may arise in such systems, human beings formulated certain principles based upon various philosophies and sciences. In the pre-historic and in the earlier historic periods, when differences arose between people due to such systems people solved them without thinking and jumping into fights and battles. With the development and progress of civilizations, it became utmost impor¬tant that rather than solving problems with fights and battles resolve the problems logically and by creating and using philosophical principles. This gave rise to ‘Economics’ as a philosophy and science of rational economic behaviour.

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