Search results
Apr 4, 2024 · Economics is a social science concerned with the production, distribution and consumption of goods and services. It studies how individuals, businesses, governments and nations make choices on ...
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
The Nature of Economics. Economics is a social science, which means it studies human behaviour. Economics looks at how limited resources are allocated to meet the unlimited needs and wants of a human. In order to improve the understanding of the behaviour of consumers and producers, economists develop models which hold assumptions.
economics: [noun, plural in form but singular or plural in construction] a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. economic theory, principles, or practices.
May 5, 2019 · Economics is the study of how people and groups of people use their resources, including money. Learn the essential concepts, terms, and subfields of economics, as well as how to measure and understand the economy.
- Jodi Beggs
Economics is a broad discipline that helps us understand historical trends, interpret today’s headlines, and make predictions about the coming years. Economics ranges from the very small to the very large. The study of individual decisions is called microeconomics. The study of the economy as a whole is called macroeconomics.
People also ask
What does economics mean?
What is simple economics?
What is economics based on?
What is economics a social science?
Introduction to economics. In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking. Created by Sal Khan.
