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Economics is the study of how people use resources to meet their needs. It includes learning how people use the money to buy goods and services, how businesses produce and sell goods and services, and how governments create laws and regulations to influence economic activity. Economics is a social science, which means that it uses scientific methods to study human behavior. It is divided into two main branches: microeconomics and macroeconomics. Microeconomics focuses on individual consumers and businesses. In contrast, macroeconomics focuses on the economy as a whole. Both components of economics are essential for understanding how the economy works and making policy decisions.
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