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Economics is a social science that studies the production, distribution, and consumption of goods and services. It examines how individuals, businesses, governments, and other organisations make decisions about how to allocate resources.

The definition of science is a systematic and logical approach to discovering how things in the natural world work. It is based on empirical evidence and has been verified through experimentation and observation.

Economics is not considered a natural science because it does not study natural phenomena and it is not based on empirical evidence alone. Instead, it uses a combination of mathematical models, statistical analysis, and theoretical frameworks to understand how the economy works. Additionally, it can be hard to conduct experiments in economics to test hypotheses due to the complexity and diversity of human behaviour.

However, economics has become more quantitative over the years, and economists use statistical methods to test hypotheses and make predictions about economic phenomena. Thus, economics is considered as a social science, which is a branch of science that deals with the study of human behaviour, society and its institutions.