Economics is the social science that studies the production, distribution, and consumption of goods and services. It examines how individuals, businesses, governments, and societies allocate limited resources to meet their needs and desires. Economics is divided into two main branches: microeconomics, which focuses on the behavior of individuals and firms in making decisions regarding the allocation of resources, and macroeconomics, which looks at the economy as a whole and analyzes aggregate indicators like GDP, unemployment, and inflation. The discipline employs various theories and models to explain economic phenomena, predict outcomes, and guide policy decisions. Ultimately, economics seeks to understand how economies function and how economic agents interact within different market structures and conditions.
Ukraine’s willingness to consider a 30-day ceasefire proposed by the U.S. has sparked optimism in global markets, providing a brief respite from geopolitical tensions. The yen fell sharply, losing 1.68…
The ECB faces a critical decision at its upcoming policy meeting, potentially implementing a fifth consecutive interest rate cut. Amid sluggish growth and easing inflation, the ECB aims for a…
Controversy Over Pension Taxation Proposal Recent discussions have ignited a fierce debate between retirees and working individuals regarding a proposed tax on pensions. The Minister of Labor, Astrid Panosyan-Bouvet, has…