Other Free Encyclopedias » 21st Century Webster's Family Encyclopedia » 21st Century Webster's Family Encyclopedia - Dream to Eijkman, Christiaan

Economics

scarce resources study

Economics, study of how goods and services are produced and how they are distributed. Resources are scarce or limited and not all needs can be met. Economics is concerned with how to distribute scarce resources in the most efficient, equitable way. Macroeconomics is the study of an entire economic system. Microeconomics deals with economic activity in the individual case.

Ecosystem [next] [back] Economic determinism

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or