Differences of ethics and economics

1. Ethics is a system of moral principles. They affect how people make

decisions and lead their lives while economics is the study of scarcity and its
implications for the use of resources, production of goods and services,
growth of production and welfare over time, and a great variety of other
complex issues of vital concern to society.
2. Ethics is concerned with what is good for individuals and society and is also
described as moral philosophy while economics is a social science directed
at the satisfaction of needs and wants through the allocation of scarce
resources which have alternative uses