Economics is an art explanation with examples?
Dear student,
Art means physical & mental ability by which an activity may be performed in the best way so economics is an art because the formation of economic policy is a measure function of art.
for example, according to the robbins definition, individuals have to choose the best possible alternative that depends on the past experience of the individuals so when we apply a scientific theory then some practical problems may arise, and to tackle them by the learned skills is an art.
Economics is such kind of a subject that has both tests at the same time, a science and an art.
Regards.
Art means physical & mental ability by which an activity may be performed in the best way so economics is an art because the formation of economic policy is a measure function of art.
for example, according to the robbins definition, individuals have to choose the best possible alternative that depends on the past experience of the individuals so when we apply a scientific theory then some practical problems may arise, and to tackle them by the learned skills is an art.
Economics is such kind of a subject that has both tests at the same time, a science and an art.
Regards.