Economics is a social science that focuses on the production, distribution, and consumption of goods and services. The study of economics is primarily concerned with analyzing the choices that individuals, businesses, governments, and nations make to allocate limited resources

Purpose and Significance of ECONOMICS

Economics is a vital field of study that examines how societies allocate scarce resources to produce goods and services and distribute them among individuals. Economics classes are designed to equip students with an understanding of fundamental economic principles, theories, and their applications in real-world scenarios. These classes are integral to both high school and college curriculums and provide a foundation for various careers in business, finance, government, and academia.