Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [1][2] is a social science that studies the production, distribution, and consumption of goods and services. [3][4] Economics focuses on the …

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 …

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 …

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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 …

Economics is a social science discipline that investigates how individuals, businesses, governments, and societies allocate scarce resources to satisfy their unlimited desires and …

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 …