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Financial experts caution against potential economic instability due to tariffs, which may disrupt consumer behavior
Category: Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services. It focuses on how individuals, businesses, governments, and societies make choices regarding the allocation of scarce resources to fulfill their needs and desires. Economics is often divided into two main branches: microeconomics, which examines the behavior and decisions of individual economic agents such as consumers and firms, and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth. The discipline employs various theories, models, and tools to analyze how people interact within markets, respond to incentives, and how these behaviors affect overall economic outcomes. Economists utilize both qualitative and quantitative methods to investigate economic phenomena and to inform policy decisions aimed at improving economic performance and welfare.