Economics is the social science which covers the total analysis of Production, Distribution and consumption of goods and services. Economics also revels.
How economies work and how economic agents interact. Economic analysis is used throughout society, in business, finance and Government also.
Economic efficiency describes about how well is the system, in generating the expected output with a given infrastructure of inputs and technology. Efficiency can be improved by minimizing the “west”.
In simple words Economics is the science which relates to “Equating the demand and supply to meet the customers needs within available infrastructure”.