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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.
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 ...
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 ...
Welfare economics – branch of economics that studies economic evaluate well-being. Social choice theory – the branch of economics that studies voting rules and collective decision-making; Economic geography – the study of the location, distribution and spatial organization of economic activities across the world.
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 ...
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 ...
The branch of economics that studies the effects of psychological, cognitive, emotional, cultural and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory. [35] Bellman equation The dynamic programming equation associated with discrete-time optimization ...
A social class or social stratum is a grouping of people into a set of hierarchical social categories, [1] the most common being the working class, middle class, and upper class. Membership of a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network. [2]