Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services. It seeks to understand how individuals, businesses, governments, and societies make choices about allocating resources, including time, money, and materials. Economics is divided into two main branches: microeconomics, which focuses on the behavior of individual agents and markets, and macroeconomics, which examines the economy as a whole, including issues such as inflation, unemployment, and economic growth. The discipline analyzes how various factors influence economic activity and the decision-making processes of various actors in the economy, aiming to develop theories and models to explain and predict economic behavior. Ultimately, economics provides insights into how economies function and guides policymakers in addressing economic challenges.