Economics

I. Introduction
A. What is economics
Economics is a social science which deals with economic activities of people
or
study of the allocation of resources for satisfying human wants
B. What gives rise to economic activities
Scarcity of resources in the presence of unlimited wants gives rise to all
economic activities. If the resources were not scarce, there would not be any
economic activity at all.
C. What is the cause of choice problems
2 causes
a. limited resources, they have to choose the most and urgent ones from
unlimited wants
b. resource has alternative uses
D.