Illustrates the introduction about economics

Question

Illustrates the introduction about economics?

Answer 1

The word “economics” has been derived with a Greek Word “Oikonomia” that means”household?. It is a social science. This is termed as “social? since it studies mankind of society. This deals along with aspects of human behaviour. This is termed as science since these studies social problems by a scientific view point. The development of economics like a growing science can be traced back into the writings of Greek philosophers as Plato and Aristotle. It was serves as a branch of politics during early days of its development since ancient Greeks applied the term to management of city-state that they termed as “Polis?. Actually economics broadened into a fully fledged social science in the latter half of the eightieth century.