Economics is a social science that seeks to analyze and describe the production, distribution, and consumption of wealth. The word "economics" is from the Greek nomos" target="_blank" >^*, "custom, law," and hence means "household management." "management of the state." An economist is a person using economic concepts and data in the course of employment, or someone who has earned a university degree in the subject.

The classic brief definition of economics, set out by Lionel Robbins in 1932, is "the science which studies human behavior as a relation between scarce means having alternative uses." Briefer yet is "the study of how people seek to satisfy needs and wants." Absent scarcity and alternative uses, there is no economic problem.Economics can also be defined as the study of "The financial aspects of human behaviour."

The subject has two broad branches: microeconomics, where the unit of analysis is the individual agent, such as a household, firm (economics jargon for a "business"), or government department, and macroeconomics, where the unit of analysis is the nation state. Another division of the subject distinguishes positive economics, which seeks to predict and explain economic phenomena, from normative economics, which orders choices and actions by some criterion; such orderings necessarily involve subjective value judgments.

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What Are The (cost/economics) Of A Haunted House Put On A Commercial Property?: people will probably pay more f.. http://bit.ly/3Bh0JE
blogtoblog (blogblog) Sat, 07 Nov 2009 07:27:22 -0000
What Are The (cost/economics) Of A Haunted House Put On A Commercial Property?: people will probably pay more f.. http://bit.ly/3Bh0JE
Health Economics: Shutting Off the Miracle-Drug Spigot - New York Post http://bit.ly/1JdTEJ
PWHealthEcon (PharmiWeb) Sat, 07 Nov 2009 07:23:04 -0000
Health Economics: Shutting Off the Miracle-Drug Spigot - New York Post http://bit.ly/1JdTEJ
i am a student of BA economics..Currently preparing for an entrance test..
anjali_raj (anjali rajan) Sat, 07 Nov 2009 07:22:37 -0000
i am a student of BA economics..Currently preparing for an entrance test..
Freaking Out over Global Warming - Mises Daily - Mises Economics Blog http://bit.ly/NTFig
JaniceChase (Janice) Sat, 07 Nov 2009 07:12:36 -0000
Freaking Out over Global Warming - Mises Daily - Mises Economics Blog http://bit.ly/NTFig
RESOURCES ARE SCARCE. It's the first Law of Economics. Resources are scarce, and we are squandering them on the infamous POLITICAL PROCESS.
mindofmo (ImplausibleEndeavors) Sat, 07 Nov 2009 07:12:16 -0000
RESOURCES ARE SCARCE. It's the first Law of Economics. Resources are scarce, and we are squandering them on the infamous POLITICAL PROCESS.
MMO News WoW Economist Looks at Catacylsm Guild Economics: The WoW Economist is back, if you already di.. http://bit.ly/122bmK
stiffmeister9 (Michael Huttner) Sat, 07 Nov 2009 07:11:30 -0000
MMO News WoW Economist Looks at Catacylsm Guild Economics: The WoW Economist is back, if you already di.. http://bit.ly/122bmK

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