Economists study trade, production, and consumption decisions, including those that occur in a traditional marketplace.

Economics Doesn't Just Study Markets

Economic analysis can be applied throughout society. It reaches into business and finance, but also into crime, law, politics, religion, war, and science.

Economics: Why It Shows Up Everywhere

Hand writing on chalkboard with 'Yes' crossed out and 'No' written underneath, illustrating decision-making.

Why It Travels So Well

Under the scarcity view, very different situations share the same structure. People pursue goals, face constraints, and use limited resources to choose among alternatives.

Economics: Why It Shows Up Everywhere

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