Economic Science

Economic science is the study of how individuals, businesses, and governments make choices about allocating resources—such as time, money, and labor—to satisfy needs and wants. It analyzes how these decisions affect the production, distribution, and consumption of goods and services. By examining patterns and relationships in markets, economics helps us understand factors like inflation, employment, and growth, providing insights into how economies function and how policies can promote prosperity and stability. Essentially, it seeks to explain and predict economic behavior to inform better decision-making at all levels.