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economics originated from the Greek word oikonomia, from the word oikos and nemien which means management of the household. Family is the basic economic unit. economics explores the best possible utilization of human [LIMITED RESOURCES]. optimize the best production of goods and services for the satisfaction of human. economics is a science. it solves problem systematically.it uses both deductive and inductive [APPROACHES] [IN] explaining things that happen in the economy. it is a social science. because economics [DEALS [WITH] HOW [PEOPLE] ALLOCATE RESOURCES TO SATISFY THEIR ECONMIC WANTS]

Bernardo M. Villages- [Guides to economics for Filipino's]- economics is a social science that studies [AND SEEKS] to allocate scarce human and non-human resources [AMONG ALTERNATIVE USES IN ORDER TO SATISFY UNLIMITED WANTS AND DESIRES]

Tereso S. Tuliao Jr.
[UNDERSTANDIING ECONOMICS IN THE PHILIPPINE SOCIETY]
economics is a social science that deals with the study of scare resources among [UNLIMITED AND COMPETING USES TO SATISFY HUMAN NEEDS]
Gerardo P. Sicat
economics
economics is

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