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The study of scarcity and its results for the usage of resources, production of services and goods, development of output and welfare through time, and a wide range of other complicated topics of essential significance to society is known as economics. Also, it’s a broad subject that needs a thorough study of all principles to apply them to real-world issues and gain a deeper comprehension of the subject. 

Besides, Microeconomics and Macroeconomics are the two broad groups that divide Economics.
Politics, geography, mathematics, sociology, psychology, engineering, law, medicine, and business are all affected by economics, which is a social science. The fundamental purpose of economics is to discover the most rational and efficient use of resources to achieve individual and societal objectives.

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