TY - BOOK AU - Akampurira Abraham PY - 2014 CY - Hamburg, Germany PB - Anchor Academic Publishing SN - 9783954898336 TI - Basic principles of Economics UR - https://m.anchor-publishing.com/document/312789 N2 - Economics can be defined as the study how scarce resources can be used to satisfy human wants or needs. Economics is a discipline which studies man’s endeavor to satisfy his unlimited wants out of the given scarce resources. Economics deals with how people allocate finite resources. There is a tendency to act by fulfilling their own interests that result into selfishness, greed among other undesirable traits. In a bid to satisfy his needs, man tries to allocate resources in an efficient manner. KW - basic, economics LA - English ER -