Elements of economics

Economics is the science of the optimal allocation of scarce resources to potentially infinite needs. The economy is fixed as an objective to say how can, with limited means, get the maximum (this is what means optimal allocation) of satisfaction of needs. Microeconomics is the study of individual behavior, in particular those of consumers, producers or holders of resources, and the analysis of their interaction. Macroeconomics examines, meanwhile, the economy as a whole in trying to understand the relationships between the various aggregates that are income, employment, investment and savings. This text provides an overview and a clear introduction to economics. The volume's audience is broad-gauged, academics and students seeking foundations for learning and research, and practitioners seeking guidance for informing their critical decisions in economics. Both newcomers to study of the field and those with a deeper knowledge base will find the material informative and stimulating.