Economics provides a unique way of thinking about the problems, decisions and outcomes that people, businesses and governments incur. Production, consumption and diversely distributed incomes reflect the interaction of society's participants. Topics include resource scarcity, markets and prices, consumer behavior, employment, inflation, international trade, government and business activity.
For topics such as these, economics helps us understand the conflicts and the results from choices we make. Because we live in a world of limits, decision-making cannot be avoided, so it must be studied. Through the lens of economics, a clearer understanding is possible.