NURSING ANM AND GNM

Detailed explanation-1: -Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.

Detailed explanation-2: -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.

Detailed explanation-3: -The process of Usage goods and services for the satisfaction is called consumption. The process of producing goods and services with the motive of maximum profit is called production. Tge process of distributing income among labours is called distribution.

Detailed explanation-4: -An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area.