Economics is the social science that studies how individuals, groups, and societies allocate scarce resources to fulfill their needs and desires. It examines the production, distribution, and consumption of goods and services, investigating the behavior and interactions of economic agents. Economics is broadly divided into two main branches: microeconomics, which focuses on the actions of individuals and businesses, and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and national income. The discipline employs various theories and models to analyze economic phenomena, helping to understand and predict economic trends and inform policy decisions. Ultimately, economics seeks to explain how economies function and how various factors influence economic outcomes.
U.S. imposed new tariffs under Trump, sparking retaliatory measures from China and Canada. China targets U.S. agriculture, planning tariffs on items like chicken, cotton, corn, and wheat. Canada responds by…
Cocoa bean prices have soared to record highs, impacting chocolate costs globally. Belgium's chocolate industry struggles with rising costs, confronting challenges in balancing profitability and survival. Cocoa prices surged from…