Economics is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, governments, and nations make choices about allocating resources to satisfy their needs and wants. Economics is divided into two main branches: microeconomics, which focuses on the actions of individuals and firms, and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth. Economists use various models and theories to understand and predict economic behavior and to inform policy decisions. The subject encompasses a range of topics, including market structures, trade, fiscal and monetary policy, and the impact of government intervention on the economy. Essentially, economics seeks to explain how societies manage scarce resources and the consequences of choices made by agents in the economy.
Europe embarks on a transformative defense and security era with a plan for 800 billion euros in investments. Aimed at increasing strategic autonomy, the initiative is led by European Commission…