Economics: An Introduction

Economics is the branch of social science concerned with analyzing the production, distribution, and consumption of goods and services. It examines the behavior and interactions of economic actors along with the functioning of economies. Economics is commonly categorized into two main branches; microeconomics and macroeconomics. Microeconomics focuses on fundamental components within the economy, such as markets and individual entities like households, businesses, and sellers. It also explores the interactions among them and the resulting outcomes. On the other hand, macroeconomics focuses on the study of the entire economy, encompassing aggregated aspects like production, consumption, saving, and investment. It also addresses concerns impacting economies, such as resource unemployment, inflation, economic growth, and the public policies aimed at addressing these concerns. This book provides comprehensive insights into the field of economics. It is a compilation of chapters that discuss the most vital concepts in this field. The book is appropriate for those seeking detailed information in economics.