Define economics

timer Asked: May 26th, 2013
account_balance_wallet $5

Question Description

Define economics

Tutor Answer

School: Purdue University

Economics is all about study of scarcity of resources. If the resources would have been available in abundance then ther will be no need of economics. It also deals with production, consumption and distribution of wealth. It is defined as a science which studies human behaviour as a relationship between ends and scare means which have alternative uses. For example if we are dealing with a particular resource A which is scarcely available then economics will helps in making best possible use of available resources or if we dealing with production of goods and various alternatuves are available for making that single product then with the help of economics we will select the method which require less resources & in return generates maximum output.

flag Report DMCA

Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors