Basic Concept of Economics

The history of economics is as old as the history of mankind.Economic is a social science which studies the human behaviours related to the economic activities.Due to a time period change no one economits are agree on one degfination but up to now defination0f ec0nomics is divided in to three groups as a defination as wealth,wealfare and scarcity given by Adam Smith,Alfred Marshall and Lionel Robbins respectively.


Scarcity is the most common problem of the society now a days due to poor government, graft and corruption. In able to supress this kind of problem we should do a move and help hand in hand .Also, we should always be open-minded in any situations.


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