The study of how goods and services are produced, consumed, exchanged, and distributed through a system of resources, markets, institutions, and agents is known as __________.
Economics is a very important part of our daily lives as without it we would not have an understanding of the way the economy runs which will lead to even more suffering than human society today.
Economics encompasses the study of the production of goods and services as well as how these goods and services are consumed and exchanged. It encompasses the resources, markets and institutions needed to keep these goods flowing.
