Simply stating, Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. It helps in explaining how people interact within markets to get what they want or achieve certain goals. Economics is a driving force of human interaction, hence studying it often reveals why people and governments behave in particular ways.People often use their resources to improve their welfare and well-being. Well-being includes the satisfaction they gain from the products and services, time spent in leisure and with family, community as well as in jobs, and the security and services provided by the government.
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