Economics is a social science that studies human behaviour and welfare as a relationship between ends socially required and scarce means which have alternative uses (Lionel Robbins, 1935). (This is not the only definition of economics, although it is the dominant one.) Interchangeably, Economics is the study of the utilization and distribution of scarce resources among individuals, with the goal of improving their welfare.

Many of the arguments and techniques of modern economics involve mathematics, ranging from simple school-level mathematics to highly advanced mathematical techniques.
Powered 2006 by GreenTin.com