HORTICULTURE

Detailed explanation-1: -Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output, called goods. Resources include inputs such as labor, capital, and land.

Detailed explanation-2: -Economics is the study of how individuals and societies choose to allocate scarce resources, why they choose to allocate them that way, and the consequences of those decisions. Scarcity is sometimes considered the basic problem of economics.

Detailed explanation-3: -1Lotteries, markets, barter, rationing, and redistribution of income are all methods commonly used to. allocate scarce resources.

Detailed explanation-4: -Scitovsky said “Economics is a social science concerned with the administration of scarce resources". Just like Robbins, Scitovsky also believed that economics is a science which deals with the study of human behaviour as a relationship between ends and scarce means which have alternative uses.

Detailed explanation-5: -Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.