EconomicS

A social science that seeks to analyze and describe the production, distribution, and consumption of wealth. It is a relatively new academic discipline: the first major book on EconomicS, AdamSmith's The Wealth of Nations was published in 1776.

The is an economic aspect to almost any topic one can think of - EducatioN, ReLigion, PoliticS, employment, trasport, defence, etc. EconomicS is, therefore,a comprehensive theory of how society works.

One of the guiding ideas in EconomicS is scarcity. Virtually everything is scarce; there are not enough resources around world to satisfy humanity. It is not only the poor who feel deprived; even the relatively well-off seem to want more. It is the economists job to evaluate the choices that exist for the use of those resources.