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Textbook Definitions of economics 

 

                                                                                       

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Textbook Definitions of Economics

  Ray Fair   Principles of economics    Karl Case  

Economics is the study of how human beings and societies choose to use the scarce resources that nature and previous generations have provided.
What is produced? How is it produced? Who gets it? 
 Why?  Is the result good or bad?  Can it be improved?

 

 

 

 

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