Introduction — Economics STD 11 Commerce — Question

Economics is a science but it is different from physical sciences. It is a social science i.e. it is a science dealing with human beings.
Unlike physical sciences, Economics is based on assumptions. Since our subject matter is human being whose behaviour is very unpredictable, economics assumes man to behave rationally. However, many a times, a man is not rational but emotional and in such cases economics laws do not operate. Similarly, there are many factors which affect a phenomenon simultaneously. But for simplicity sake, we assume other things to remain same which they may not.