Economics can be defined as the scientific study of the choices made by individuals and societies in this regard to the alternative uses of scarce resources which are employed to satisfy wants. Humans devise systems to share out these scarce resources between themselves. Economists are interested in describing these systems and findings the best methods. Economics has been recognized as a special area of study for over a century. Virtually all collages offer courses in economics and most allow students to major in the subject. Economists maintain high profiles in governments and also well represented among the highest appointed in private sector.
