Differences between Economics and Business

S.no

                                 Economics

                                              Business

1)

Economics is the science of choices. It exhibits how limited available resources can be utilized in alternative ways to fulfill unlimited human wants.

Business means those human economic activities which are organized and operated freely and regularly to provide goods and services to society for the sake of private profits.

2)

It is a more comprehensive term than business.

Business is the part of economics.

3)

Economics is of two kinds-micro and macro.

Business comprises industry and commerce.