1. why are the picture or collage representative of mans economic activities.

The picture in the collage represent mans economic activities

because now a days we are running Making decisions requires trading
off one item against another, the ability of an individual or group to carry
out a particular economic activity (such as making a specific product) more
efficiently than another activity.

2. what basic economic concepts are present in the pictures. why?

The basic economic concepts present in the pictures are scarcity,

trade-off, comparative advantage, opportunity cost, specialization and
exchange which is present in our economy today.

3. how can you define economics?

Economics is a social science that studies how people satisfy

unlimited wants with scarce resources. It involves the analysis of choice
and trade through the use of intuitive graphs and mathematical elements.
Economics is regarded as a social science because it uses scientific
methods to build theories that can help explain the behaviour of individuals,
groups and organisations.

4. how would you study such economic phenomenon using scientific method?

The application of the scientific method to economic phenomena and

topics related to the fundamental problem of scarcity. Economic science,
also termed positive economics, is one of several social sciences that apply
the scientific method to the study of human behavior.