Economics
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Economics is the study of the steps of the production of products, how they are distributed for selling to the public and how the public responds to buying the product.
Economics is the science of choice. The fundamental issue above all else is how to solve the economic problem for example how a society can satisfy the unlimited wants of individuals or the communities with the limited resources available. There is only a limited amount of resources available to produce the unlimited amount of goods and services we desire. Society has to decide which choices to make. For example, do we make missiles or hospitals? Do we employ robot arms or workers? Who is going to use the goods that are eventually made?
Economics is essentially a study of how to use scarce resources in the best way possible. Individuals, consumers and governments are confronted with the economic problem of alternative uses of their limited resources...