Is economics a science
Document Type:Proofreading Editing
Subject Area:Business
Of all the definitions advanced, economics looks at scarcity/ limitation of resources and the unlimited nature of human needs. On the other hand, science refers to a systematic enterprise that organizes knowledge into several testable evidence, looking at cause and effects (Nijkamp, P. Is economics a science? Economics is indeed a science. Just like other science disciplines, economic employs a systematic study of facts which can be proven. The facts and theories in economics are carefully collected, they are classified and then analyzed. Such laws include the law of supply, demand, diminishing returns among others. These laws are drafted basing on experiments, meaning that like all science, an experiment is a crucial tool in economics. All science should have a measurement scale.
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