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This document provides an introduction to economics. It discusses: 1. Definitions of economics from Adam Smith, Alfred Marshall, Lionel Robbins, and perspectives from India. Economics studies how people make decisions, interact in markets, and how the overall economy works. 2. How people make decisions by facing trade-offs and opportunity costs. People respond rationally to incentives. Markets allow trade to make everyone better off through gains from specialization and competition. 3. The functions of

Author

TanayJohari

Language

EN