Meaning of Population In Economics - SS1 Economics Lesson Note

Population in economics refers to the total number of individuals or entities in a particular geographic area or market segment who share certain characteristics. These characteristics can include demographic factors such as age, gender, education, and income, as well as behavioral factors such as consumer preferences, buying habits, and employment status. 

In economics, the population is an important concept because it helps analysts and policymakers to understand the demand and supply patterns of a market, as well as the social and economic factors that influence these patterns.