What is economic,

 Economic :-

A social science known as economics studies how products and services are produced, distributed, and consumed. It examines the choices made by people, companies, governments, and other organisations when deciding how to distribute resources to fulfill their limitless wants and requirements. Economics looks at how markets function, how supply and demand changes affect them, how government policies and laws can affect economic outcomes, etc. The study of macroeconomic variables like inflation, unemployment, and economic growth also falls under the umbrella of economics.

Sectors of economics.

There are various economics disciplines,

Micro economics: This area of economics focuses on how businesses, industries, and individual consumers behave in the marketplace. It explores how decisions made by individuals impact the economy as a whole, how prices are established, and how resources are distributed.

Macro economics is the area of economics that examines the functioning of the economy as a whole as opposed to specific marketplaces. In particular, it looks at broad indicators like GDP, inflation, unemployment, and the balance of payments.

The field of economics known as "development economics" is concerned with the social and economic progress of nations, particularly less developed ones. It looks at topics including economic growth, inequality, and poverty.

Environmental economics: This area of economics researches how the economy and the environment interact.