Definition of Economics
The economy is a social science that includes different and more specific areas (political economy, Business Administration,…) and studies the behavior of’male addressed to procure the goods and services necessary to meet their needs. Any object that can satisfy a need It is considered an asset.
The economy does not study all behaviors but only those who have one or more needs to be met and have scarce resources, the economy therefore wants to solve the economic problem.
The economy may be defined as the science that scarce goods. An asset is considered poor when in a given situation is not available in unlimited quantities, then you pay a certain price for procuring. A commodity to be such must meet a need, be scarce but still available.
The individual is then put in front of a choice.Adopting a given solution man will prefer an alternative and will discard another to achieve maximum satisfaction for his needs or satisfy his needs spending as little as possible (opportunity cost principle)