Definition of Economics
Economics is the study of scarcity, the study of how people use resources or make decisions.
Definition: Economics is a social science that examines various aspects and shows how people, governments, and nations make decisions to allocate, sell, and buy resources to satisfy their unlimited resources.
Economics can be divided into two areas such as macroeconomics and microeconomics.
Macroeconomics focuses on the behavior of an entire country or market.
On the other hand, microeconomics focuses on the actions of people and industries.
Definition: Economics is a social science that examines various aspects and shows how people, governments, and nations make decisions to allocate, sell, and buy resources to satisfy their unlimited resources.
Economics can be divided into two areas such as macroeconomics and microeconomics.
Macroeconomics focuses on the behavior of an entire country or market.
On the other hand, microeconomics focuses on the actions of people and industries.
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