Economics is the study of how people, businesses, and governments use resources like money, time, and materials to meet their needs. It helps explain how products are made, how prices are set, and how decisions are made about buying and selling in everyday life.
In simple words, economics is about understanding choices and trade-offs. It shows us why goods cost what they do, why jobs are created or lost, and how the economy of a country grows or struggles. It connects people’s daily lives with larger issues like inflation, unemployment, and international trade.