Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, cultural economics, family …

In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which have alternative …

Aug 25, 2025 · What Is Economics? The study of economics is a social science primarily concerned with analyzing the choices that individuals, businesses, governments, and nations make to allocate limited...

Economics can be defined in a few different ways. It’s the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making. It often involves topics like …

Learn all about the fields of economics, microeconomics, macroeconomics, finance, and capital markets with hundreds of videos, articles, and practice exercises.

One of the fundamental principles of economics, described by Adam Smith in “The Wealth of Nations”. Work can be undertaken more efficiently if broken up into discrete tasks.

This free textbook is an OpenStax resource written to increase student access to high-quality, peer-reviewed learning materials.

At its core, economics is the study of scarcity and how we use our resources to improve lives both individually and as a society. Sure, economics involves equations, data and graphs but it's also a …

Economics is not just about money. It is about weighing different choices or alternatives. Some of those important choices involve money, but most do not. Most of your daily, monthly, or life choices have …

Discover simple explanations of macroeconomics and microeconomics concepts to help you make sense of the world.