Economics is the science of wealth was defined by

Adam Smith early work described economics as a study of wealth creation distribution and exchange within markets. Later definitions expanded focus toward choice under scarcity welfare and growth. For educators this history matters because curriculum must move beyond money to include opportunity cost incentives market failures and development. Learning tasks can connect everyday decisions with scarcity and trade offs. Case studies on local markets savings and public goods make content relevant. Clear visuals like production possibility curves help learners grasp efficient use of limited resources which supports wise community planning and better personal financial decisions in daily life.