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What does economics deal with?

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Question

What does economics deal with?

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Solution

Economics is the study of how individuals, businesses and governments manage limited resources to meet unlimited human needs and wants. It examines decisions related to the production, consumption and distribution of goods and services, as well as the use of resources, prices, employment, income, investment, trade and the effects of government policies on the economy.

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Chapter 8: Building Blocks in Economics: The Problem of Choice - Intext Questions [Page 183]

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NCERT Social Science Understanding Society India and Beyond Part 1 [English] Class 9
Chapter 8 Building Blocks in Economics: The Problem of Choice
Intext Questions | Q 1. | Page 183
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