CIFA LEVEL 1 PAPER NO.4: ECONOMICS NOTES

Institution Kenya Accountants and Secretaries National Examinations Board
Course CIFA
Year 1st Year
Semester Unknown
Posted By Rose Oloo
File Type pdf
Pages 79 Pages
File Size 3.46 MB
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Description

Economics is the study of how societies use scarce resources to produce valuable goods and services and distribute them among different individuals. The central problem economics addresses is scarcity—resources are limited while human wants are unlimited. This imbalance forces individuals and societies to make decisions about what to produce, how to produce it, and for whom to produce it.
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