Economics is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, governments, and societies make choices about allocating scarce resources to satisfy their needs and wants. Economics is divided into two main branches: microeconomics, which focuses on individual and firm-level decision-making, and macroeconomics, which studies economy-wide phenomena such as inflation, unemployment, and economic growth. The discipline employs various models and theories to understand how economic agents interact and how policies can affect economic outcomes. Overall, economics seeks to explain and predict behavior related to the economy and to inform decision-making at various levels.
Financial markets are facing significant volatility due to President Trump’s aggressive tariff policy, affecting global economic stability. The S&P 500, Dow Jones, and…