Economía

Economía, or economics in English, is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, and governments allocate resources to satisfy their needs and wants in the context of scarcity. The field is divided into two main branches: microeconomics, which focuses on the behavior of individual agents such as households and firms, and macroeconomics, which examines the economy as a whole, including issues like inflation, unemployment, and economic growth. Economists use various theories and models to understand economic behavior, develop policies, and predict economic trends. The subject also explores concepts such as supply and demand, market structures, and externalities, providing insights into how economies function and the potential impacts of different economic policies.