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Economics
Economics is the social science that analyzes the production, distribution, and goods and services. The term economics comes from the Ancient Greek oikonomia (“management of a household, administration”). Current economic models emerged from the broader field of political economy in the late 19th century. Classic economies concentrates on how the forces of supply and demand allocate scare products’ and resources. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.
Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society in business, finance and government but also in crime, education, the family, health, law, politics, religion, social institutions, war and science. At the turn of the 21st century, the expanding domain of Economics in the social sciences was described as economic imperialism.
Common distinctions are drawn between various dimensions of economics. The primary distinction is between microeconomics, which examines the behavior of basic elements in the economy, including individual markets and agents (such as consumers and firms, buyers and sellers), and macroeconomics, which examines issues affecting an entire economy, including unemployment, inflation, economic growth, monetary and fiscal policy. Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economics policy and business strategy.
Iх. Ответьте письменно на следующие вопросы:
1.What does classic economies concentrate on?
2.When was the expanding domain of Economics in the social sciences described as economic imperialism?
3.Who uses macroeconomic models and their forecasts?