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We don't own any of the contents given in this eBook. They are just extract of the Macmillan books. Meaning and Definition of Economics 2. Concept of Microeconomics 3. Concept of Macroeconomics 4. Problems of Economic Organization 5. Market, Command and Mixed Economies. It is important to study how resources can best be distributed to meet the needs of the greatest number of people. As we are more connected globally to one another, the study of Economics becomes extremely important. Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. In the absence of scarcity and alternative uses of available resources, there is no economic problem. The subject thus defined involves the study of choices as they are affected by incentives and resources.


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