Economics: Also an Art

Men's Antigua Washington Nationals Red Balance Polo
Support your team in style with this men’s Washington Nationals Balance polo.

Clarks® Cloudsteppers Marin Coral Women's Wedge Sandals
These Clarks Cloudsteppers Marin Coral wedge sandals are made for easy, all-day wear.

Every time we look for the meaning of economics in any economics book, never if not, seldom they emphasize this discipline as an art. It does not even mention the word “art” in its technical definition. Economics, as defined in an Economics book, is a social science concerned with the efficient use of scarce or limited resources to achieve maximum satisfaction of human wants and needs. It involves production, distribution, allocation and exchange of these resources to attain efficiency and satisfy a person’s wants and needs to the fullest. It is a social science since it deals with the society and its natural resources. When we identify a combination of variables in production, how to produce them considering the resources available, for whom are these goods produced, and how they will be distributed in the society, we are dealing with economics as a science. But how does economics become an art?

When we study our society, we speak of people that comprise it. Therefore, it is in itself an art as we also study the interactions of people in the society. In other words, it becomes an art when we apply the concepts and theories of economics in solving the problems of people living in the society. When we say how 1000 sack of rice subsidy from the SLT warehouse be allocated to ten trucks for delivery, such as according to their class (Class A, Whole grain, Premium, etc.); how these trucks will deliver them for distribution, such as by location or region (cities or municipalities); and how many kilograms of rice be given to the residents of a city or municipality where they live in; we are dealing with economics as an art. When we talk of the degree of satisfaction every resident of a city or municipality derived from the rice subsidy, how these contributed to their individual consumption and propensity to save, and the ways an economist can do to help these residents get released from hunger, if not minimize them, we also study economics as an art.

Several other fields of studies which are also considered an art include photography, philosophy, and music. All of them also deal with people and their actions, their reasoning and behavior.

Juniors' Candie's® Marilyn Midrise Bootcut Pants
Exude femininity as these juniors' Candie's bootcut pants dress up your style.

Snowman Holiday Mailbox Topper
This fun inflatable snowman mailbox topper is a festive and durable outdoor decoration.

Skechers Windom Plaid Town Waterproof Women's Boots
Cold wet weather won't get you down wearing these Skechers Windom - Plaid Town boots.

Women's ALEXIA ADMOR Knot-Waist Midi Shift Dress
Fabulously feminine. You'll make an impression with this women's shift dress from ALEXIA ADMOR.

Men's Axe & Crown Jinx Relaxed-Fit Bootcut Jeans
Keep your casual look on point with these men's relaxed-fit bootcut jeans from Axe & Crown.

Women's Nine West Ribbed Crewneck Sweater
Add instant style to your closet with this women's Nine West sweater.

Wet Brush Mini Detangler Hair Brush - Liquid Glitter - Mermaid
Meet the Mini Detangler, an on-the-go brush that helps hair stay strong and healthy!

You may also like...