write a two page singe on definition of economics we clam that economics is a social science what we mean by that? The key word is methodologies, how do we studies economics? in a scientific way what does it we do that make it scientific?
scarce resources and insatiable want, its all about supply and demand ( what do we mean by scarce resources, what do we mean by insatiable want, difference between need and want)
market what we mean by market who the producer are, who the consumer are, what the problem are with market economies.
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