Economics is the science which studies human behavior in selecting and creating prosperity. The core economic problem is the imbalance between human needs are not limited to the means of satisfying the needs of a limited number. The problem was then led to scarcity (Ingg: scarcity).

Adam Smith is recognized as the father of economics

The word “economy” itself comes from the Greek word οἶκος (oikos), which means “family household” and νόμος (nomos), or “regulations, rules, laws,” and broadly defined as “household rules” or “management the household. ” While that is an economic expert or economist is a person using economic concepts and data in the work.

In general, subjects in the economy can be divided in several ways, most notably the microeconomics vs. macroeconomics. In addition, the economic subjects can also be divided into positive (descriptive) vs. normative, mainstream vs. heterodox, and others. Economics also functioned as an applied science in family management, business, and government. Economic theory can also be used in fields other than monetary, such as criminal behavior research, scientific research, death, politics, health, education, family and others. This is possible because the economy is basically like those mentioned above is the study of human choice. » Read more: What Is Economics