Economics is the study of how society produces, distributes, and consumes goods and services. Because it usually assumes a limited supply of resources, English economist Lionel Robbins described this field as the science of scarcity in 1935. Economic ...
Economics is the study of how society produces, distributes, and consumes goods and services. Because it usually assumes a limited supply of resources, English economist Lionel Robbins described this field as the science of scarcity in 1935. Economic thinking is at least as old as money.
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