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, 2025what 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. One of the fundamental principles of economics, described by adam smith in “the wealth of nations”. Learn all about the fields of economics, microeconomics, macroeconomics, finance, and capital markets with hundreds of videos, articles, and practice exercises.
Economics can be defined in a few different ways. Economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior. Economics is essentially the study of how we, as individuals and as a society, make decisions amidst scarcity.
