- economists are interested in people's living standard i.e. in their material well-being.economists assume that people in have certain wants.They study how particulars societies are organised so at satisfy people wants.
- Wants are unlimited.most of us want to have goods we do not have now and more of these we do have,such as good building,comfortable cars,beater food,better cloth,etc.The country's ability to satisfy wants depends on.
- How much is produced,
- How many people are these to consume what is produced,and
- How production divided up among those who wish it. The nations total output how is produced.what is produced is called commodities.Goods and services together are called commodities.
Total output divided by the number of people available to consumed it determis averages output per person,which is sometimes called per capital output .It determine the country's averages stander of living.How evenly output is divided is concerded with the distribution of living stander among the people in society.Thus,the three basic question of economics or economics problem .
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