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| Definitions by InvestorWords.com |
| What is...? |
| economics The study of how the forces of supply and demand allocate scarce resources. Subdivided into microeconomics, which examines the behavior of firms, consumers and the role of government; and macroeconomics, which looks at inflation, unemployment, industrial production, and the role of government. see also applied economics, econometrics, Keynesian Economics, Reaganomics, supply-side economics. |
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