Economics is the exclusive study of financial markets and instruments. study of political organization. study of the consumption, production, and distribution of goods and services. study of the distribution of unlimited resources to satisfy limited wants.

Economics, at its core, is the art of decision-making when faced with scarcity. It helps us understand how societies allocate their limited resources to meet the diverse and unlimited wants of their inhabitants. This fundamental principle applies to everything from individual household budgeting to assessing national economic policies. In the real world, economics shapes our daily lives in ways we often overlook. Think about when you decide to buy a coffee instead of a sandwich because you're trying to save money. That's basic economic thinking at play! Understanding economic principles can empower you to make smarter choices—be it in personal finance, workplace strategies, or even voting on policy issues.