ECONOMICS AS A SOCIAL SCIENCE

Jun 30th, 2015
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Economics is about society and it is about improving conditions for the economic upliftment of people in a society. It seeks to measure well being of society. One example of such a measure of human well being is the Human Development Index that ranks countries as developed, developing or underdeveloped.

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ECONOMICS AS A SOCIAL SCIENCEEconomics is about society and it is about improving conditions for the economic upliftment of people in a society. It seeks to measure well being of society. One example of such a measure of human well being is the Human Development Index that ranks countries as developed, developing or underdeveloped.Two concepts we need to keep in mind are (1) resources available are limited and (2) man's desires and needs are unlimited. Because of this, as individuals, communities and countries we have to make decisions and choices. Economics is the study of these

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