Economic Research & Analysis Forms for Santa Clara
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FAQ
Economics affects our daily lives in both obvious and subtle ways. From an individual perspective, economics frames many choices we have to make about work, leisure, consumption and how much to save. Our lives are also influenced by macro-economic trends, such as inflation, interest rates and economic growth.
Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
Economics helps us understand the world around us and how it really works. It also helps us to understand people, governments, businesses and markets and why they make the economic choices they do.
What Is Economics? Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Behind this definition are two key ideas in economics: that goods are scarce and that society must use its resources efficiently.
Economics provides a framework for understanding the actions and decisions of individuals, businesses and governments. It provides a means to understand interactions in a market-driven society and for analyzing government policies that affect the families, jobs and lives of citizens.