What Is Economics?
Economics is a field that deals withthe usage of limited resources by societies which is used to produce valuable goods and distribute them among a pool of people.
The study of individual decisions is referred to as Microeconomics and the study of the economy as a whole is called Macroeconomics. Microeconomics is limited to family’s medical debt, whereas Macroeconomics covers a large area of sovereign debt.
Several fields within economics significantly exist today. The students can make their own decisions to opt for the field of their choice, but they must know the background of their chosen field and how that field is likely to serve them. Energy Economics is one of the major fields, which includes topics related to supply and use of energy in societies. Energy economics does not portray itself as a self-contained academic discipline, but it is an applied subdiscipline of economics.
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