About this document
Nature and Scope of Economics by Kamlesh Yadav is a document available to read on EtoBox.
Economics can be considered both a science and an art. As a science, it involves systematic study through observation and data collection to analyze relationships and formulate theories. As an art, it focuses on applying theoretical knowledge to determine what policies should be pursued. Economics includes positive analysis, which analyzes causes and effects without value judgments, and normative analysis, which considers how to achieve social goals. The scope of economics spans economic theory, applied eco
- Author
- Kamlesh Yadav
- Language
- EN