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What is economics?
The term "economics" can be defined in a variety of ways. It's the research into scarcity, how people use resources and respond to incentives, or decision-making. It frequently discusses wealth and finance, although it is not solely about money. Economics is a vast field that enables us to understand trend lines, analyze current situations, and forecast future events.
The term "economics" refers to a wide range of topics ranging from microeconomics to macroeconomics. Microeconomics is the study of individual decisions. Macroeconomics is the study of the economy as a whole. A microeconomist might study medical debt among families, whereas a macroeconomist might study sovereign debt.
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