Scope and Subject of Economics | Management Class 11

Notes | Commerce

Scope and Subject of Economics

Grade: XI

Scope of Economics

Scope of economics means the area covered by economics for its study. The scope of economics is largely determined by the definition of economics. Under the scope of economics, mainly subject matter of economics, nature of economics and relationship of economics with other science are studied.

Subject of Economics

Subject matter of economics is quite controversial (puzzle). Subject matter of economics means what we study in economics or what is the main focus of economic. Economics studies socio-economic behavior of human beings. As human behavior goes on changing according to time, needs and situation, the subject matter of economics also goes on changing. Subject matter can be divided on the following basis:-

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