What does refer to economic

1.	What does refer to economic
Answer» 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.<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.Father of Economics Adam Smith provided wealth definition of economics( Book- The Wealth\xa0of Nations, 1776):-\xa0Economics is an enquiry into the factors that determine the wealth of a country.

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