Nationalökonomie

Nationalökonomie, or economics, is the study of how nations allocate their limited resources—such as labor, capital, and raw materials—to produce goods and services. It examines how these resources are distributed among individuals, businesses, and the government, and how choices affect overall economic well-being, growth, and stability. The field analyzes markets, trade, inflation, employment, and government policies to understand economic performance and guide decision-making that aims to improve living standards and sustainability on a national level.