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What is economics?

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Question added by Suleiman Mohammed , Store officer , Kaduna state universal basis education bord
Date Posted: 2013/09/19

Economics is: 'the science that seeks to solve the economic problem'

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

The theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.

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