Economía

Economía, or economics in English, is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, governments, and nations make choices about allocating resources. Economics seeks to understand how economic agents interact and the institutions that govern economic activity. It is divided into two main branches: microeconomics, which focuses on individual markets and the decision-making behavior of consumers and firms; and macroeconomics, which examines the economy as a whole, including issues like inflation, unemployment, and economic growth. Economists use various models and theories to explain economic phenomena and to inform policy decisions aimed at improving economic outcomes.