Economic is a science or art. Exlpain write in your own words at least 10 sentences.
please

Economics is a kind of science.

Mainly a part of social science.

it is shortened as the science of scarcity.

Economics is known as science as it uses scientific method such as observation and others to build up theories.

it helps to develop relation between societies and individuals too.

Economics studies how goods and services are produced, distributed throughout the economy, and consumed by individuals and businesses.

Economics also is concerned with how resources are allocated by governments and businesses to satisfy the wants and needs of consumers

Critics argue that economics is not a science due to a lack of testable hypotheses and ability to achieve consensus.

Despite these arguments, economics shares the elements of science.