ECONOMICS AS A SOCIAL SCIENCE

Economics studies human activities and behaviors in relation to wealth. it also studies alternative uses of resources to meet human wants. Since economics laws and rules are derived on the basis of human behaviors, they are subject to change along with change in human activities and their behaviors. Every human activity is carried out in human society. Human beings are the most and first important factor of society. Therefore, economics is directly or indirectly a social science. Economics guides human being in making decisions on what to produce, how to produce, how much to produce and for whom to produce. Production of many types of goods lies within the scope of economics.Production of various types of goods in most essential to those who live in there society. The process of marketing, publicity, exchange and consumption are also the parts of social action. Therefore, economics has become on the integral parts of human society.