Economics is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, governments, and societies make choices about allocating scarce resources to meet their needs and wants. Economics is typically divided into two main branches: microeconomics, which focuses on the behavior of individuals and firms in making decisions regarding resource allocation, and macroeconomics, which examines the economy as a whole, including aggregate indicators such as GDP, unemployment rates, and inflation. The field also explores concepts such as supply and demand, market structures, and the impact of government policies on economic behavior. Overall, economics seeks to understand how resources can be efficiently utilized to improve welfare and address issues related to scarcity and choice.
The Netherlands' bicycle culture remains robust despite a 7% dip in sales, selling over 858,000 bicycles in 2024. Fatbikes are gaining traction, capturing over 10% market share, particularly popular for…
In Putrajaya, Transport Minister Anthony Loke has raised concerns regarding the need for a Public Accounts Committee (PAC) probe into a proposed electric train leasing plan, estimated at RM10.7 billion.…