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Economics is the science of scarcity and efficiency?

In: Business & Finance, Economics, Social Sciences [Edit categories]

Answer:

In simple words it is a twin theme of Economics or i think it is best definition of Economics as following

Goods are scarce and our Society must use it Efficiently.

scarcity-insufficient of resources like land,labour,and capital.

efficiency-maximum use of resources.

First answer by Asifkhattak. Last edit by Kafeel.kd. Contributor trust: 0 [recommend contributor ]. Question popularity: 3 [recommend question].

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