Economics is the study of what?

Economics is the study of how individuals, businesses, governments, and societies make choices about allocating scarce resources to satisfy their unlimited wants and needs. It examines the production, distribution, and consumption of goods and services, and analyzes how these activities are organized and coordinated. Economics is divided into two main branches: microeconomics, which focuses on the behavior of individual agents such as households and firms, and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth.