Economics is the study of how society manages its resources from "summary" of Economics for Beginners by Andy Prentice,Lara Bryan
Economics is all about how a society decides to use what it has. This includes everything from money and factories to natural resources like oil and coal. In simple terms, it's about how we manage our resources. And when we talk about resources, we mean everything that can be used to produce goods and services. This could be anything from land and labor to machinery and technology. But managing resources isn't just about deciding what to do with them. It's also about making choices. Because resources are limited, we have to make decisions about how to use them. This means that we have to think...
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