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Economics
Economics is the social science that studies the production, distribution, and
consumption of goods and services. The word 'economics' is from the Greek for
(oikos: house) and (nomos: custom or law), hence "rules of the
house(hold)."
A definition that captures much of modern economics is that of Lionel Robbins in
a 1932 essay: "the science which studies human behaviour as a relationship
between ends and scarce means which have alternative uses." Scarcity means that
available resources are insufficient to satisfy all wants and needs. The subject
thus defined involves the study of choices as they are affected by incentives
and resources.
Areas of economics may be divided or classified in various ways, including:
microeconomics and macroeconomics
positive economics ("what is") and normative economics ("what ought to be")
mainstream economics and heterodox economics
fields and broader categories within economics.
One of the uses of economics is to explain how economies work and what the
relations are between economic players (agents) in the larger society. Methods
of economic analysis have been increasingly applied to fields that involve
people (officials included) making choices in a social context, such as crime ,
education , the family, health, law, politics, religion [5], social
institutions, and war.Learn Economics, SCHOOLS Economics, COLLEGES Economics,
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