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what will be the correct defination of economy and economics

Asked by beunstoppablenowdoit 5th August 2018, 11:02 AM
Answered by Expert

Economy is a system which provides means to work and earn a living. So every economy undertakes economic activities such as production, consumption and investment. 

Economics is a social science which studies the way a society chooses to use its limited resources which have alternative uses to produce goods and service and to distribute them among different groups of people.

Answered by Expert 7th August 2018, 11:36 AM
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