Economics is a social science that seeks to understand and explain human behavior, especially with respect to how scarce resources are produced, distributed, and consumed by individuals, businesses, governments, and societies. Economics draws on insights from psychology, sociology, and political science to better understand human behavior and decision-making in economic contexts.
Economics can be split into two major categories: Microeconomics and macroeconomics. Microeconomics is the study of behaviors of individual actors and entities that makeup an economy whereas macroeconomics is the study of economies in aggregate.
Deeper Knowledge on Economics
Ways of participating in economic activity
The art and science of stimulating demand
The balance of opportunity and wealth distribution in a society
A fancy term for hoarding
Broader Topics Related to Economics
The study of human social relationships