Economics

Economics is the social science that studies how individuals, businesses, governments, and societies make choices about allocating scarce resources to satisfy their needs and wants. It examines the production, distribution, and consumption of goods and services, analyzing the behavior and interactions of economic agents. Economics can be broadly divided into two main branches: microeconomics, which focuses on individual and business decision-making, and macroeconomics, which looks at the economy as a whole, including issues such as inflation, unemployment, and economic growth. Economists use theories and models to understand and predict how various factors influence economic activity and to develop policies aimed at improving economic outcomes. Overall, economics seeks to understand the complex factors that govern financial systems and the impact of decisions on both individual and collective well-being.