Economics

Economics is the study of how a society chooses to use its limited resources to produce, exchange, and consume goods and services. The study is divided into two broad areas - macroeconomics and microeconomics. Macroeconomics deals with broad, economy-wide issues such as economic growth, inflation, unemployment, and depression. Microeconomics focuses on choices and behavior of individual participants in the economy - producers, workers, employers, and consumers - and on issues involving competition, monopoly, and inequality in income and wealth. Microeconomics can also provide insights in such areas as family relationships, crime, and discrimination of many sorts. 

 

 

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