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Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4]Economics focuses on the behaviour and interactions of economic agents and how economies work.
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. [ 9 ] Robbins describes the definition as not classificatory in "pick[ing] out certain kinds of behaviour" but rather analytical in "focus[ing] attention on a particular aspect of behaviour, the form imposed by the ...
In many countries' curricula, social studies is the combined study of humanities, the arts, and social sciences, mainly including history, economics, and civics.The term was first coined by American educators around the turn of the twentieth century as a catch-all for these subjects, as well as others which did not fit into the models of lower education in the United States such as philosophy ...
In the United States, a university may offer a student who studies a social sciences field a Bachelor of Arts degree, particularly if the field is within one of the traditional liberal arts such as history, or a BSc: Bachelor of Science degree such as those given by the London School of Economics, as the social sciences constitute one of the ...
Economic sociology – studies both the social effects and the social causes of various economic phenomena. Environmental economics – subfield of economics concerned with environmental issues. Resource economics – the study of supply, demand, and allocation of the Earth's natural resources.
Contemporary economic sociology may include studies of all modern social aspects of economic phenomena; economic sociology may thus be considered a field in the intersection of economics and sociology. Frequent areas of inquiry in contemporary economic sociology include the social consequences of economic exchanges, the social meanings they ...
Macroeconomics – branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. Microeconomics – branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.
An economy [a] is an area of the production, distribution and trade, as well as consumption of goods and services.In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3]