Can you simplify Economics definition for students?
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1 Answer
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Why not! In simple words, Economics is the study of humans in the regular business of life. It analyzes how they get their income and how they use it. That's why, on one side, it's the study of wealth and on the other, it's a part of the study of man.
It is a part of the Social Science where we study about the production, distribution, and consumption of resources in the society.
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