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Economics is the social science that examines how individuals, businesses, governments, and societies make decisions about allocating scarce resources to meet their needs and wants. It covers the production, distribution, and consumption of goods and services and provides insights into how economies function.
Economics provides a framework for understanding how to make efficient choices, the impact of those choices on our lives, and the broader implications for society and the world. It is essential for analyzing current issues and making informed decisions in both personal and professional contexts.
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