Economics is the study of how people use resources to produce valuable goods and services and how these goods and services are distributed among individuals in a society. Economics is divided into two main branches: microeconomics, which deals with individual consumers and firms, and macroeconomics, which looks at aggregate economic activity.
Economics focus on the production, distribution, and consumption of goods and services. It attempts to explain how economies work and how economic agents interact with each other. The fundamental concepts of economics include scarcity, opportunity cost, supply and demand, productivity, utility, and economic efficiency.
Inflation, unemployment, and economic growth are some of the most important issues in macroeconomics. Economics is a complex subject, but this guide will provide you with a basic understanding of the factors that impact micro and macro financials.