Scope of Economics
Earlier, the scope of economics was limited to the utilisation of scarce resources to meet the needs and wants of people and society. Over the years, the scope of economics has been broadened to many areas.
What is Economics? Definition, Meaning, Assumptions, Scope, Nature
Economics is the science that deals with production, exchange and consumption of various commodities in economic systems. It shows how scarce resources can be used to increase wealth and human welfare.
