1. When is economics a science? When is economics an art?

Economics as a Science is the method based on the science

used to investigate economic behavior in economics. It creates
concepts and models to describe how the economy works and then
uses information to evaluate these ideas. Economics is an art form as
it needs knowledge and imagination. Economists are frequently
faced with the conflict of understanding how to put economic ideas
to actual life circumstances.

2. How does acting in your own self-interest lead to the common

good? In relation to business and economics?

My own self-interest It can lead to the common good is it

because the invisible hand hypothesis holds that acting in one's own
self-interest can lead to the common good. In relation to business
and economics, the invisible hand idea can be utilized in a variety of
ways. Businesses that battle with one another, for instance, are
frequently compelled to develop and deliver superior goods and
services to consumers.

3. What do you think is the role of an invisible hand in economics?

I think the role of an invisible hand in economics is Allocating

resources efficiently The invisible hand can assist in the effective
allocation of resources by making sure products and services are
manufactured in areas where they have the greatest demand and
at the cheapest possible price.