Economics and history

Economics is the study of how people, businesses, and governments make choices about using resources like money, time, and labor to satisfy needs and wants. It explores how goods and services are produced, distributed, and consumed, affecting overall well-being. History is the record of past events and human experiences, helping us understand how societies, cultures, and economies develop over time. Together, they reveal how people’s decisions shape economies and how those changes influence societies across different periods, providing a context for understanding current issues and future possibilities.