Economics: Economics is the study of how people make choices under scarcity. It is a social science that focuses on the production, distribution, and consumption of goods and services. Economics also studies the behavior and interactions of economic agents and how economies work. See also Economy, Markets, Trade, Exchange._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |