Economics

What does it mean?
The study of how people use their limited resources in an attempt to satisfy unlimited wants.

In Other Words...
Economics is often referred to as the Dismal Science.

Related Links
Economics Basics Tutorial - Learn economics principles such as the relationship of supply and demand, elasticity, utility, and more!

Related Terms
Dismal Science | Economic Profit | Economies of Scale | Equilibrium | Keynesian Economics | Laffer Curve | Laissez Faire | Macroeconomics | Microeconomics | Scarcity | Supply Side Theory | Trickle Down Theory

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