Economics () is a social science that studies the production,
distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how
economies work. Microeconomics analyses what is viewed as basic elements
within economies, including individual agents and markets, their interactions,
and the outcomes of interactions. Individual agents may include, for example,
households, firms, buyers, and sellers. Macroeconomics analyses economies as
systems where production, distribution, consumption, savings, and investment
expenditure interact; and the factors of production affecting them, such as:
labour, capital, land, and enterprise, inflation, economic growth, and public
policies that impact these elements.