Question

=> What is economics ¿
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{In a fight between two people the third one benefits.}
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Answer 1

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements.

Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and behavioural economics; and between mainstream economics and heterodox economics.

Economic analysis can be applied throughout society, in real estate,business,finance, health care,engineering and government.Economic analysis is sometimes also applied to such diverse subjects as crime, education, the family, law, politics, religion,social institutions, war, science,and the environment.

{In a fight between two people the third one benefits.}

• NØT ALWAYS I THINK MADAM

Answer 2

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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. ... Scarcity means that human wants for goods, services and resources exceed what is available.