what is economics?

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name of presentation what is economics? economics is a social science concerned with the production, distribution, and consumption of goods and services. it studies how individuals, businesses, governments, and nations make choices about how to allocate resources. economics focuses on the actions of human beings, based on assumptions that humans act with rational behavior, seeking the most optimal level of benefit or utility. the building blocks of economics are the studies of labor and trade. since there are many possible applications of human labor and many different ways to acquire resources, it is the task of economics to determine which methods yield the best results. one of the earliest recorded economic thinkers was the 8th-century b.c. greek farmer/poet hesiod, who wrote that labor, materials, and time needed to be allocated efficiently to overcome scarcity. but the founding of modern western economics occurred much later, generally credited to the publication of …

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name of presentation what is economics? economics is a social science concerned with the production, distribution, and consumption of goods and services. it studies how individuals, businesses, governments, and nations make choices about how to allocate resources. economics focuses on the actions of human beings, based on assumptions that humans act with rational behavior, seeking the most optimal level of benefit or utility. the building blocks of economics are the studies of labor and trade. since there are many possible applications of human labor and many different ways to acquire resources, it is the task of economics to determine which methods yield the best results. one of the earliest recorded economic thinkers was the 8th-century b.c. greek farmer/poet hesiod, who …

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