The meaning of Economics In a general sense, economics is the study of decision-making and choice necessitate by unlimited wants and scarce resources Economics is a search for ways to expand our limited capability to fulfil our wants Wykstra: Introductory EconomicsThe Meaning of Economics ◼ In a general sense, economics is the study of decision-making and choice necessitate by unlimited wants and scarce resources. ◼ Economics is a search for ways to expand our limited capability to fulfil our wants. ◼ Wykstra: Introductory Economics