{"id":5298,"date":"2019-02-16T09:12:35","date_gmt":"2019-02-16T03:42:35","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5298"},"modified":"2019-02-16T09:51:00","modified_gmt":"2019-02-16T04:21:00","slug":"economics","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/economics\/","title":{"rendered":"Economics"},"content":{"rendered":"<p>Various definitions to Economics have been presented by economists.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Some definitions describe the scope of Economics whereas some definitions<br \/>\ndescribe the methodology of Economics.<\/li>\n<li>Economics studies how people behave in an Economic way in society, and the<br \/>\nmethodology used.<\/li>\n<li>The Economics is a social science since it studies the economic behavior of the<br \/>\npeople in society<\/li>\n<li>Economics is considered a science because Economic theories and principles are<br \/>\nbased on scientific methods<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #000000;\">Economics differs from the natural sciences for the following factors<\/span><\/h3>\n<ul>\n<li>The theory of Economics examines the behaviour of people in the context of<br \/>\nEconomics.<\/li>\n<li>Theories of Economics cannot be proved inside laboratories.<\/li>\n<li>Theories of Economics change in terms of factors such as: time ,region and<br \/>\nethnic group.<\/li>\n<li>The way of thinking according to Economics is making decisions logically by<br \/>\ncomparing the marginal benefits and marginal cost.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #000000;\"><strong>Economics is important for groups to take logical decisions<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">To producers<\/span><\/li>\n<li><span style=\"color: #000000;\">To votes<\/span><\/li>\n<li><span style=\"color: #000000;\">To employees<\/span><\/li>\n<li><span style=\"color: #000000;\">To employers.<\/span><\/li>\n<li><span style=\"color: #000000;\">To consumers<\/span><\/li>\n<li><span style=\"color: #000000;\">To government administrators<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Various definitions to Economics have been presented by economists. &nbsp; Some definitions describe the scope of Economics whereas some definitions describe the methodology of Economics. Economics studies how people behave in an Economic way in society, and the methodology used. The Economics is a social science since it studies the economic behavior of the people [&hellip;]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,2679],"tags":[],"class_list":["post-5298","post","type-post","status-publish","format-standard","hentry","category-economics","category-unit-1-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economics - Learning &amp; Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/economics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economics - Learning &amp; Education Portal\" \/>\n<meta property=\"og:description\" content=\"Various definitions to Economics have been presented by economists. &nbsp; Some definitions describe the scope of Economics whereas some definitions describe the methodology of Economics. 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