Economics Economics is a branch of social science which deals with the efficient use of limited or scarce resources to achieve

maximum satisfaction of economic wants. Or Economics deals with the study of resource management. It is concerned with the use of limited resources to satisfy unlimited wants. It is the study of Economy. Adamsmiths Definition of Econimics An Enquiry into the nature and causes of wealth of Nations. Marshals Definition of Economics Economics is the study of mankind in the ordinary business of life. It examines that part of individual and social action which is most which is most closely connected with the attainment and use of material requisites of well-being. Robins Definition of Economics Economics is the science which studies human behavior as a relationship between ends and scarce means, which have alternate uses. Economy Economy is an area where people produce, sell, buy and consume goods and services to satisfy their needs and wants.