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True or False and why? Economics is a business discipline that studies how firms can maximize...

  1. True or False and why? Economics is a business discipline that studies how firms can maximize profits.
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Economics is a business discipline that studies how firms can maximize profits. This statement is false. It is only partially true. Economics is a social science discipline that studies human behaviour as a relationship between scarce and ends means which have alternative uses.Economics includes consumers, producers, governement and also other international institutions.

Business economics / Managerial Economics is a subdiscipline of Economics. That particular area gives priority for business organisations and profit maximisation of firms

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