Economics is a field that is very broad coverage. Therefore it is very difficult to create definitions that would provide an appropriate description of the analysis covered by economics. However, this does not mean that a definition which briefly explains the field of economics studies can not be done at all. In an attempt to give a brief overview of the economics field of study, the definition of science is always connected to the state of imbalance between:
i) the ability of the factors of production to produce goods and services.
ii) the public’s desire to acquire goods and services.
In the previous section has shown that the factors of production are not able to meet all the needs of the beings in the economy. Therefore every individual, company or community / country must always make choices. Various economists are always defined on the basis of economic science to reality. For example, Professor P.A. Samuelson, one of the leading economies in the world – who received the Nobel prize for economics in 1970 – provides for the definition of economics as follows:
Economics is a study of individuals and societies make choices, with or without the use of money, using resources in a limited – but it can be used in various ways to produce various kinds of goods and services and distribute them for consumption needs, now and in the future, to various individuals and community groups.
Thus the basic problem described in the economic analysis is essentially aimed to answer the following questions:
How to use resources or a certain income for such use can provide the maximum satisfaction and prosperity to the individual and society?
