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Why is economics classed as a social science?
A
It explains how businesses maximise their financial profits using accounts and forecasts.
B
It explains how people and societies allocate scarce resources using theory and evidence.
C
It explains how governments distribute all available resources using laws and regulations.
D
It explains how natural resources are formed and depleted using experiments and observation.
Card 1 of 20
1.1.1 Economics as a social science Flashcards
20 flashcards on Edexcel A A Level Economics 1.1.1 Economics as a social science: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.