Besides the four basic needs, people pay a lot of attention to what they want. Various products are made and sold to serve people's wants. Every day number of resources such as time, money, labour, energy are used to produce ggods for people's consumption.
The point is that resources are scarce and limited while people's needs wants are not. Thus, people nee to know how to best use resources for themselves and the next generations.
Thus, economics is the study of how people, business and government get the most from the world's scarce resources. Economics shows us how to make the best choices to maximize what we have now. In breif,economics studies how people work with scarcity