EAN: 9783954893331

BASIC PRINCIPLES OF ECONOMICS - AKAMPURIRA ABRA...

Economics can be defined as the study how scarce resources can be used to satisfy human wants
or needs. Economics is a discipline which studies man s endeavor to satisfy his unlimited wants
out of the given scarce resources. Economics deals with how people allocate finite resources.
There is a tendency to act by fulfilling their own interests that result into selfishness 
greed among other undesirable traits. In a bid to satisfy his needs  man tries to allocate
resources in an efficient manner.

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