When I found out that science involves economics I was like " oh wow economics is still related to science? Oh come on, give us a break. " But after the discussion I now learned that science is really important in economics because this involves the scientific approach. The sciences are divided into two major groups the natural and social. In natural science this includes the biology, physics and chemistry it deals with the physical objects or phenomena. Meanwhile, social sciences such as sociology, psychology, anthropology deals with the interaction of individual groups and institutions that make up society. Ergo, economics is a social science. I now know because it is a science. Which means it is a systematic body of knowledge which utilizes the scientific approach in explaining how society allocates scarce resources among alternative wants that need to be satisfied. It is social because its central subject is man and how he interacts with other elements of society.
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