Basic principles of Economics
Nov 2014 · diplom.de
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104
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About this ebook
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.
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Anil Das
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November 26, 2020
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About the author
The author is a Ugandan working in the Ministry of education as a deputy head teacher at Kigezi High School. He holds a doctorate degree in Development Studies, a Master Degree in Educational management and a Bachelor Degree in Economics (ECON 3.1.1).
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