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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.
May 18, 2024 · Economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. Economics was formerly a hobby of gentlemen of leisure, but today there is hardly a government, international agency, or large commercial bank that does not have its own staff of economists.
Apr 4, 2024 · The two branches of economics are microeconomics and macroeconomics. Economics focuses on efficiency in production and exchange. Gross Domestic Product (GDP) and the Consumer Price Index (CPI)...
Economics is not primarily a collection of facts to memorize, although there are plenty of important concepts to learn. Instead, think of economics as a collection of questions to answer or puzzles to work. Most importantly, economics provides the tools to solve those puzzles.
A concept that helps to explain international trade. If country A is better at making toasters than country B, and B is better at making kettles than A, it makes sense for each country to focus on...
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.
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.
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.
Learn how different types of economies make decisions about what to produce and how to distribute resources. We'll introduce key concepts like opportunity costs, trade-offs, and production possibilities.
In this free, online course, Professor John Taylor will introduce the fundamental concepts of economics, the study of how people manage resources and react to scarcity.
