Economics is the study of social behavior guiding the allocation of scarce resources to meet unlimited needs and desires. Applied economics involves applying general economic principles to solve specific problems in the real world. It focuses on using economic theory to analyze real-world situations and address definite issues.

1. Economics as an
Applied Science
Topic 2- Applied Economics 12

3. Economics?
What is

4. Applied Economics
Applied Economics
• applying general principles to solve
definite problems.
• is the study of social behavior guiding
in the allocation of scarce resources to
meet the unlimited needs and desires
of the individual members of a given
society.
The study of economics in relation to real world
situation.