What is economic what is economic

ANSWEREconomics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

ElasticityElasticity is an economic concept used to measure the change in the aggregate quantity demanded of a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes more than proportionally when its price increases or decreases.Productsn. (Economics) the total value of all goods and services produced domestically by a nation during a year. It is equivalent to gross national product minus net investment incomes from foreign nations.Regulations“Economic regulation” refers to rules that limit who can enter a business (entry controls) and what prices they may charge (price controls). ... Another kind of market failure arises when firms fail to supply sufficient information for consumers or workers to make informed choices.it's anu