The production, consumption, and transfer of wealth are the main topics of the social science discipline of economics. Economics, which can be divided into macroeconomics and microeconomics, has a direct impact on daily living. The area of economics known as macroeconomics focuses on broad-scale variables including interest rates and regional, national, and global productivity. Microeconomics, on the other hand, focuses on how people, corporations, and organizations use their wealth. We study economics because... The short answer is that it has an impact on key aspects of our daily lives, including taxation, interest rates, wealth, and inflation. Analysts can investigate the costs, benefits, and consequences of governmental policies in a variety of sectors that have an impact on society using the tools that economists give.
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