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 economics and institutional economics.

Jul 31, 2025 · 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 uses.” In other words, …

Jun 28, 2024 · Economics is a social science that focuses on the production, distribution, and consumption of goods and services. The study of economics is primarily concerned with …

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.

Learn all about the fields of economics, microeconomics, macroeconomics, finance, and capital markets with hundreds of videos, articles, and practice exercises. Content in this domain covers courses from high school to college and beyond.

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 wealth and finance, but it’s not all about money.

Mar 26, 2024 · Economics is the study of how individuals, businesses, governments, and societies allocate resources to meet their needs and desires. It examines how resources like money, labor, and materials are used to produce goods and services, and how these goods and services are distributed among people.

Feb 5, 2023 · Learn what economics is and why ‌it’s ‌crucial to know. We’ll also go over 2 branches of economics, what each of them focuses on, what economists do, and more.

Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. As individuals, families, and nations, we confront difficult choices about how to use limited resources to meet our needs and wants.

Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions.