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Основы экономики. Basics of economics. Answer the questions.

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Основы экономики

Basics of economics

Source:https://www.youtube.com/watch?v=2YULdjmg3o0

1) Answer the questions.

i. How would you define economics?

ii. Which definition of economics is better in your opinion?

 

…a social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants.
…the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind.
Economics… …a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
…the science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
…the art of providing for all the wants of a family, seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary for supplying the wants of the society, and to employ the inhabitants

 


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