what is economics about
Answers
Explanation:
Economics is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
Explanation:
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.
Fundamentals
In business and economics, fundamentals represent the primary characteristics and financial data necessary to determine the stability and health of an asset. ... For businesses, information such as profitability, revenue, assets, liabilities, and growth potential are considered fundamentals
Need
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. ... The ultimate goal of economic science is to improve the living conditions of people in their everyday lives. Increasing the gross domestic product is not just a numbers game.
There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two. Individuals and businesses make their own economic