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 about how to allocate resources.
Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses. | | Read More » | | Related to "Economics: Overview, Types, and Economic Indicators" | | | | Macroeconomics | | Macroeconomics studies an overall economy or market system, its behavior, the factors that drive it, and how to improve its performance. | | Read More » | | | Microeconomics | | Microeconomics is the branch of economics that analyzes market behavior of individuals and firms in order to understand their decision-making processes. | | 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 depicts the increase and decrease in production output of goods and services in an economy. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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