Answer to Question #65328 in Economics for matthew baird

Question

what is economics

Answer 1

Economics is a broad term referring to the scientific study of human action, particularly as it relates to human choice and the utilization of scarce resources. Economic analysis often progresses through deductive processes, much like mathematical logic, where the implications of specific human activities are considered in a "means-ends" framework.

Reference: Economics https://www.investopedia.com/terms/e/economics.asp#ixzz4Yn0oOh5d