Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, cultural economics, family …

In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which have alternative …

Aug 25, 2025 · What Is Economics? The study of economics is a social science primarily concerned with analyzing the choices that individuals, businesses, governments, and nations make to allocate limited...

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Economics can be defined in a few different ways. It’s the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making. It often involves topics like …

One of the fundamental principles of economics, described by Adam Smith in “The Wealth of Nations”. Work can be undertaken more efficiently if broken up into discrete tasks.

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It's comprised of broader macroeconomics and consumer-centric microeconomics.

Economics is the study of how individuals and societies choose to employ those resources: what goods and services will be produced, how they will be produced, and how they will be distributed among the …

Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of …

Economic activity is spurred by production which uses natural resources, labor and capital.