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Reference Terms
from Wikipedia, the free encyclopedia


Economics, as a social science, studies the production, distribution, and consumption of commodities.

The field may be divided in several different ways, most popularly microeconomics (at the level of individual choices) vs macroeconomics (aggregate results).

It may also be divided in positive (descriptive) vs. normative, mainstream vs. heterodox, and by subfield.

Economics has many direct applications in business, personal finance, and government.

Note:   The above text is excerpted from the Wikipedia article "Economics", which has been released under the GNU Free Documentation License.
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October 26, 2016

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