What is the meaning of economics?

  • Thread starter Thread starter Scott Parsons
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Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices.

Microeconomics is the study of the choice that individuals and businesses make, the way these choices interact in markets, and the influence of governments.

Macroeconomics is the study of the performance of the national economy and the global economy.
 
Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices.

Microeconomics is the study of the choice that individuals and businesses make, the way these choices interact in markets, and the influence of governments.

Macroeconomics is the study of the performance of the national economy and the global economy.
 
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