**Economics as a Science**

3 Lessons 7 mins

3 Lessons 7 mins

**Topics:**

a. Basic Concepts: Wants, Scarcity, choice, scale of preference, opportunity cost, Rationality, production, distribution, consumption.

bi. Economic problems of: What, how and for whom to produce and efficiency of resource use.

bii. Application of PPF to solution of economic problems.

**Objectives:**

(i) compare various concepts in economics and their applications;

(ii) interpret graphs/schedules in relation to the concepts;

(iii) identify economic problems;

(iv) proffer solutions to economic problems

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