Economics Edit Meaning

1.

The allocation of scarce resources that have alternative uses.

Everyone should have a basic understanding of economics to be an educated citizen

2.

The study of choice in the face of scarcity.

Ignorant people who post idiotic definitions have scarce resources.

3.

Economics is a social science, that is concerned with meeting 'unlimited demands with only scarce resources'. Economics relies on the assumption that everyone wants more and more money, goods and services = we are all a bunch of greedy mo' fo's. Hence the concept is accurate, and will continue to be taught in colleges everwhere for years to come. Noteable masters include the venerable Daddy G, of Peterborough fame.

A: how much are these bananas?

B: £2

A: Fine, I buy them off that illegal immigrant for £1.50

Hence the laws of Supply and Demand are and the concept of economics is satisfied.

See money, greed, economies of scale, economy, politics

4.

Economics is about creating good outcomes for human beings.

Economics isn't meant to explain everything, but it is good for establishing parameters, distinguishing relationships, identifying issues, clarifying options and providing an analytical framework.

Economics can establish criteria by which governmental decisions can be made.

See accounting, economy

5.

The study of fufilling ones unlimited wants using the Earth's limited resources.

"It's pure economics! Since our resource of TV writers is scarce, we're stuck with crappy reality shows!"

6.

A class taught to most high school students about how a society manages its scarce resources. It is comprised of a handful of mildly persuasive concepts pumped full of jargon and needlessly represented by graphs to deter intelligent people from realizing that this is not a real science.

Much like intelligent design, economics is a popular psuedo-science that intellectual humans would overlook.

The self-proclaimed “social science” contrastingly strives to ignore more of human nature every few years with a book written by a middle-aged man who realizes that he is not smart enough to discover anything new in a real science.

See intelligent design, poser, red herring, jargon

7.

Shitty major. The most useful is Econ 101 which you will probably attend sometime at college. Any further study of this 'science' is a total waste of time.

No studying Economics will not help you become an investment banker.

What if I want to do a PhD. Well you will realize that you don't know enough Math to do a PhD in Economics. Go study something more interesting.