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Economic entities are classified by consumers, household, firms and government.

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consumers,households,firms, government are the 4 entities of economics

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Counsumers and household is teh classsification of basic economic entities .

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Primary, secondary,tertiary are the classification of producers.

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There are three types of producers:-
1. Primary Producers
2. Secondary Producers
3. Tertiary Producers

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There are three types of producers :- peimary producers , secondary producers , tertiary producers .

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The goverment supplies different public goods in an economy .

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The role of government in an economy is that government supplies goods and wealth in economy.

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Anything that has want satisfying power is called goods.

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Consumers and households are the classification of economic entities.

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Source of demand and demand of services are the two importance of household.

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Consumers
Households
Firms
Government

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For the purpose of ownership and responsibilities, economic entities are classified in three main categories. Proprietorship: A proprietorship is a business owned and operated by one person. It can just be a type of business with one person such as a hair braiding salon or a small convenience store.

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Demand for service :- the consumers demand is just not confined to consumers goods .
Sorce of demand :- consumers are the biggest source of demand for various goods and service and produced in an economy .

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Economics is a social science because it studies the organisation and of society.

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Primary Producers
Secondary Producers
Tertiary Producers

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There are three types of producers Primary, Secondary and Tertiary producers.

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Humans wants are unlimited and never ending. We cannot satisfy them since we hace limited or scarce resources and wealth all and hence we need to satisfy the most urgent wants first. In this way, wealth is scarce.

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Agricultural (Primary) Producers: These producers mainly produce goods related to agriculture and its allied activities. They generally produce (ii) Industrial (Secondary) Producers: These producers mainly produce goods related to industry or manufacturing units.

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A capitalist economy, the role of government is very limited.

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Dhruv Kotecha
Economics entity are classified into firms, households, consumers and government

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economic activites is when there is give and take of  money related in the prosess 

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economic activites is when there is give and take of  money related in the prosess 

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eg-buying something from a market

non economic activity is when the activity is performed for a help or out of love.

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A household consists of one or several persons who live in the same dwelling and share meals. It may also consist of a single family or another group of people. The household is the basic unit of analysis in many social, microeconomic and government models, and is important to economics and inheritance.

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all the things in the world which satisfy human wants also have their own value is known as goods.

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all the things in the world which satisfy human wants also have their own value is known as goods.

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The government supplies different public goods and regulates the total supply of money in an economy.

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1] Goverment supplies different public goods in an economy.
2]The goverment regulates the total supply of money in an economy.

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1) The government supplies different public goods
2)The Government regulates the total supply of money in an economy.

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Economic entities are classifien into consumers producers houseold ans firms

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Economics is a social science because it follows the “ ceteris paribus” rule ( all other things remaining the same) just like in an experiment In the real world, economic variables such as price and income, are constantly changing, and this creates a problem in demonstrating the relationship between variables.

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the soical science study how socitey is organised and function. economics sociology anthropology pyscology political science. economics is regareded as queen of all science

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The main features of Marshall welfare -oriented theory, which gave primary importance to man and his welfare, are as below: Economics deals with ordinary men and women, who have feeling of love, affection, and friendship and do not get motivated merely by the desire of availing themselves of the maximum monetary benefits.

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1]Source of demand
2]Demand for services

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producers are classifies into primary secondary and tertiary producers

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"A study of mankind in the ordinary business of life. It examines that part of individual and social actions which is most closely connected with the attainment and use of material requisites of well being."
Economic is concerned with causes of welfare.

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scarcity of wealth is when the supply of goods is limited and the demand is more .

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scarcity of wealth is when the supply of goods is limited and the demand is more .

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1) Source of Demand
2) Demand for Services.

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Economic entities can be classified into - consumers, households, firms and producers

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Economic is a social science as it studies how society is organized and funtions . Economics , sociology , anthropology , psychology and ppolitical science are akk social science .

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The basic economic entities can be classified into 1) consumers 2) households 3) producers and 4) government.

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The importance of household in an economy is :
calculating how to spend the money and where
and what amount to spend.

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Economics is a social science because it studies the organization and functioning of society from a particular angle.

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Classification of producers are - primary, secondary and tertiary producers

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Economic activities are performed to earn money and non-economic activities are performed for pleasure, love and affection as they do not have money involved.

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Producers are classified into primary, secondary and tertiary producers.

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a study a mindkind in the ordinary business on life.it examines that part of indiviual and social actions which is most closly connected with the attainment and use of material requires of well being.

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ECONOMIC ACTIVITIES
ECONOMIC ACTIVITIES ARE PERFORMED TO EARN MONEY OR WEALTH

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Dhruv Kotecha
Limitations of supply in goods, and commodities is called scarcity of wealth

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All things that have value and satisfy human wants is called goods.

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Economic is a study of mankind.
Economic is a study of oridinary business of life.
Economic is concerned with causes od material welfare .
This definition considers material .

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Economics is a social science as it studies the economic behavior of people and organizations in society.

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1) The government supplies different public goods in an economy.
2) The government regulates the total supply of money in an economy.
3) The government frames different economic policies for the smooth operation of the economy.

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the goverment plays the most important role in a n economy as it plays the role of both producer and consumer
as a producer the government hires various factors of production for consumption of whole society and the govenmnt also purchase goods and are consumed by the society

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An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost. This is in contrast to a free good

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Dhruv Kotecha
Supply public goods
Regulate total supply of money
Framing different economic policies
Provide primary health and education facilities for benifit of common people

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Told of government in an economy is:
1) the government supplies different public goods eg. parks, roads, etc.
2) The government regulates the total supply of money in an economy
3) it also provides health and education for common people

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Dhruv Kotecha
Producers are classified into primary, secondary and tertiary producers

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Scarcity of wealth means the limitations of supply of commodities in relation to its demand.

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Any two importance of household are:
1) source of demand
2) demand for services

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1]Economics is a study of mankind.
2] Economics is a study of ordinary business of life.

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Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.” From this definition, one can build up the following propositions

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Dhruv Kotecha
Source of demand and demand of services are two importance of household.

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economics activities are performed to earn money
non economic activity are performed for pleasure love and affection these activities do not money s aspect.

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The importance of household is for 1) source of demand and 2) demand for services.

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Economic activities are done to satisfy a material need , non economic activity are done to get mental or psychological satisfaction .

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all things that have value and satisfy human wants are called goods.

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Dhruv Kotecha
An economy is sum of total production unit of a region

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The Study of Mankind and Use of money.

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the importence of houseold is to bring maximum satisfaction in limited income
A hpuseold has to decide whether to spend more money on houseold items or childrens education

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Economics is a social science as it studies how society is organized and functions. Economics, sociology, political science, etc. studies the organization and functioning of a society from a particular angle .

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"Economy is a system which provides people with good and services which directly or indirectly satisfy their wants."

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Goods are all thing that have value and satisfy himan wants are called goods .

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Economics is often called the 'queen' of social science as it studies economic behavior of every individual, unit, organization.

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Economic activities are performed to earn money or wealth, whereas non economic activities are performed for pleasure, love and affection .

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Any two features are:
1) use of money
2) study of mankind

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economic activities are the study if economic activities of manking
economics is the study of human welfare of material type .

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Economics studies the organization  and functioning of the society from a particular angle. It studies the economic behavior of individuals and organisations in the society. It studies individuals and organisations engaged in the production, distribution and consumption of goods and services.

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Goods are those things which can satisfy human wants.

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An activity which involves a transaction of money is called an Economic activity.
An activity which is done from kindness or love is called a Non-Economic Activity.

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ECONOMICS IS A SUBJECTS THAT STUDIES THE ECONOMIC ACTIVITIES OF MAN NON ECONOMIC ACTIVITES FALL OUT SIDE ITS SCOPE

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Economic activities are done to satisfy a material need whereas non economic activities are done to get mental or physiological satisfaction.

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Scarcity of wealth means human wants are unlimited we can not satisfy them all .

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Jinanshi gala           economics is the science which studies human behaviour as a releationship beteen ends and scarce means which have  alternative uses. 

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Jinanshi gala           economics is the science which studies human behaviour as a releationship beteen ends and scarce means which have  alternative uses. 

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Goods are all the things that have value and satisfy human wants.

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Economics is more about human wants and needs rather than wealth. It is a study of mankind.

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Two features of Alfred Marshall's definition of economics are 1) Study of mankind and 2) study of material welfare

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Anything which is capable of satisfying human wants or anything that has utility is called goods.

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Dhruv Kotecha
Economics is often regarded queen of social science as it studies economic behaviour of individuals and organisations in society. It studies economic behaviour of individuals and organisations engaged in production, distribution and consumption of goods and services

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Economic activities are performed to earn money or wealth whereas non economic activities are performed for pleasure, love and affection.

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Anything in economics that has want satisfying power is called a good in economics.

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economic activites are done with an expectation of money in return to get mental satisfaction and Non economic activites are done for family member or for donations etc no money is expected in return

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Scarcity of wealth means limitations in the supply of a commodity in relation to its demand.

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economics studies the way and mean in which people organise themselfes to tackel the problems of scarcity.

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Dhruv Kotecha
Economics is study of mankind.
It is study of ordinary business of life

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Scarcity of wealth means that human wants are unlimited and we cannot satisfy all of them. Therefore if the wealth is increased a human can attain most of their needs.

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All these institution and organistaion may be collectively called an economy .

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Economy is the sum total of all economic activities of the society.

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Scarcity of wealth means limitations in supply of a commodity in relation to its demand which means more demand and less production .

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Dhruv Kotecha
Activities done for profit purpose are economic activities and activities which are not done for profit purpose and for social purpose are non economic activities

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Jinanshi gala                          all things that have value and satisfy human wants are called goods

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Jinanshi gala                          all things that have value and satisfy human wants are called goods

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Economic activities are those which are done to earn wealth or money. Non economic activities are those which are done for satisfaction and done out of love and not wealth.