Wirtschaftswissenschaft

Wirtschaftswissenschaft, or economics, is the study of how societies use limited resources to produce goods and services and distribute them among people. It examines the behaviors of individuals, businesses, and governments in making choices about production, consumption, and investment. The field analyzes markets, prices, and economic policies to understand factors that influence economic growth, employment, inflation, and wealth distribution. Essentially, it helps explain how economies function and guides decisions to improve prosperity and well-being within communities and nations.