Economics plays an important role in our everyday lives and especially, in contributing to efficiency in the case of making optimal use of the scarce resources available for the livelihood of all living creatures. Economics enables us manage these resourc

Economics plays an important role in our everyday lives and especially, in contributing to efficiency in the case of making optimal use of the scarce resources available for the livelihood of all living creatures. Economics enables us manage these resources in a way that makes the limited resources enough for our consumption without allowing for wastage. 

How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.