Economics is one of the oldest disciplines among the humanities and is categorized as a social science . Economics examines and analyses the economic activity of people in order to satisfy their needs and desires . Human wants are the starting point of economic activity and provide the basis for economics . An economic activity refers to an activity that helps the people to achieve economic gains , which is value in terms of money . Human beings have certain basic needs , for example , food , the need for shelter and clothing . But a human being is never satisfied and there will no end to his wants . Do you have everthing you want ? Probably not , because one want will lead to another want and so on . So , economic deals with the economic probem of individuals , firms , societies and countries .
No comments:
Post a Comment