Economics is a branch of social science focused on the production, distribution and consumption of goods and services.
 | | Term of the Day | Words to Know | | |  | | Economics: Overview, Types, and Economic Indicators | Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.
Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the aggregate economy, and microeconomics, which focuses on individual consumers and businesses. | | Read More » | | Monetarist | | A monetarist is someone who believes an economy should be controlled predominantly by the supply of money. | | Read More » | | | Keynesian Economics | | Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation developed by John Maynard Keynes. | | Read More » | | | Business Cycle | | The business cycle describes the rise and fall in production output of goods and services in an economy. | | Read More » | | | Game Theory | | Game theory is a framework for modeling scenarios in which conflicts of interest exist among the players. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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