What does\’ nature of economy\’ mean?
Natural economy\xa0- is a type of\xa0economy\xa0in which money is not used in the transfer of resources among people. … As a corollary, the majority of goods produced in a system of\xa0natural economy\xa0are not produced for the purpose of exchanging them, but for direct consumption by the producers (subsistence).
Economic was regarded as a social science because it use scientific methods to build theories that can help explain the behaviour of individuals, group and organization.Economic attempts to explain economic behaviour, which arises when scarce resources are exchange.