Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
Answer: Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
Explanation: Economics is defined as a science that deals with the making, distributing, selling and purchasing of goods and services. An example of economics is the study of the stock market.
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Answer: Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
Explanation: Economics is defined as a science that deals with the making, distributing, selling and purchasing of goods and services. An example of economics is the study of the stock market.
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