Answer
Economics is a science that studies human behavior which aims to the allocation of scarce resources in such a way that consumer can maximize their satisfaction, producers can maximize their profits, and society can maximize its social welfare.
It is about making a choice in the presence of scarcity.
Work Step by Step
Economics is a social science that estimates the relationship between the consumption and production of goods and services in an environment of finite resources.
A focus of the subject is how economic agents behave or interact both individually (microeconomics) and in aggregate (macroeconomics).
