explain the concept of economics
Economics is the concept that contracts the manufacture, allotment, and use of produce and services. It is the study of how the use of inadequate resources will best satisfy the wants, needs and desire of the greatest number of people.
economics definition The science that deals with the production, distribution, and consumption of commodities. Note: Economics is generally understood to concern behavior that, given the scarcity of means, arises to achieve certain ends.