Economics is a social science.Otther social sciences include Political Science,Sociology,Anthropology,Psychology,  Philosophy and Religion.Economics studies a Particular aspect of social or human behavior,namely;the act of choosing between alternatives in order to obtain the maximum satisfaction from limited resources.In other words,Economics is a science of scarcity and choice.The problem of humanity has always been that its wants are too many while the means of satisfying them have been too few or limited. Economic activity arises out of the conflict between the boundless wants of human beings and the scarce means for satisfying them afforded by nature.The whole of our economic .life,with its institutions of business firms, employers, workers,markets,international trade, and the like,is really,basically,what people have been doing, and will do,to overcome that conflict.Recognizing this fact and doing something about it fall within the purview of economics.Hence,the problems of what to produce,how to produce it,how to distribute the National income,how to dispose one’s personal income,and so on,form the subject-matter of economics.finding the means to solve them is its main purpose.


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