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1.1.1 Economics as a social science

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.

1.1.1 Economics as a social science Flashcards

  1. A Level
  2. /Economics
  3. /1.1.1 Economics as a social science

Flashcards for Edexcel A A Level Economics 1.1.1 Economics as a social science, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 20 cards, matched to the Edexcel A A Level Economics (9EC0) specification.