Aug 25, 2025 · What Is Economics? The study of economics is a social science primarily concerned with analyzing the choices that individuals, businesses, governments, and nations …

In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which …

Economics is a social science discipline that investigates how individuals, businesses, governments, and societies allocate scarce resources to satisfy their unlimited desires and …

Economics is one social science among several and has fields bordering on other areas, including economic geography, economic history, public choice, energy economics, cultural economics, …

Or, in more formal language, economics is the study of how societies divide and use their resources to produce goods and services and of how those goods and services are then …

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In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. Topics include the definition of …

Watch this video for a brief overview of economics. You’ll often encounter videos like this, enclosed inside of “Watch It” boxes, in this course. These are highly recommended and serve …

Economics is about who does what, who gets what, and what they do with it. At that simplest, grass-roots level, we all know something about the economy. And so we should all have …

Discover the basics of economics and its impact on everyday life in 'What Is Economics? A Beginner’s Guide'. Learn how it shapes policies, markets, and global systems.