Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively. The two branches of economics are microeconomics and macroeconomics. Economics focuses on efficiency in production and exchange.
Economic isthe studyofscarcity andit's implications for the useofresources, productions ofgoodsandservices ,growthofproduction andwelfareovertime, and agreatvariety of othercomplexissuesofvitalconcerntosociety.
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Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively. The two branches of economics are microeconomics and macroeconomics. Economics focuses on efficiency in production and exchange.
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Economic is the study of scarcity and it's implications for the use of resources, productions of goods and services ,growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
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